Alba, Texas (October 2019) – Bright Star-Salem Special Utility District announces the refunding of Texas Water Development Board Water System Revenue Bonds through the issuance of $3,907,000 in new Revenue Refunding Bonds issued in September. The refunding allows the District to benefit from the lower interest rates and the resulting savings available in the current market. Wanda Gaby, General Manager, commented “The savings from the recent refunding will greatly assist us in our continuing effort to provide the highest quality water services to our customers in an efficient manner.”
The District selected Government Capital Securities Corporation (GCSC) to serve as the Financial Advisor in connection with the structuring and closing of the transaction.
“Congratulations to the leadership at Bright Star-Salem Special Utility District for their foresight in bringing this important project to fruition. We take great pride in assisting Texas Special Utility Districts meet their needs and objectives.”, stated Wade Thompson, Government Capital Securities Corporation Vice President.
About Bright Star-Salem Special Utility District
Committed to providing safe, high quality water services to our community, while maintaining a standard of excellence in customer service and environmental conservation, Bright Star-Salem Special Utility District currently services portions of Wood and Rains Counties. Bright Star-Salem Special Utility District’s drinking water supply surpassed the strict regulations of both the State of Texas and the U.S. Environmental Protection Agency (EPA) in 2018 per the Consumer Confidence Report. For more information, visit brightstarwater.com.
About Government Capital Securities Corporation
GOVERNMENT CAPITAL SECURITIES CORPORATION (GCSC) is a privately held municipal advisory firm headquartered in Southlake, Texas. Since 1999, the firm has offered its clients a broad range of Public Finance services including, planning and structuring guidance related to Certificates of Obligation, Revenue Bonds, Tax Notes, Texas Water Development Board Obligations and related continuing disclosure reporting obligations. For more information, visit govcapsecurities.com.
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