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PUBLIC FINANCE

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Powell Law Group’s public finance services begin before a bond election is called. Proper preparation is the cornerstone for a successful bond election. Our attorneys regularly collaborate with the district’s financial advisor, administrators, underwriters, and underwriters counsel to prepare the official statement. Powell Law Group maintains a positive working relationship with the public finance attorneys and staff at the Attorney General’s Office and we are often called upon to work closely with those attorneys as unanticipated issues arise during the bond approval process. Our firm will work with the district on all aspects of election law, election timelines and throughout the process until the bonds are sold. Powell Law Group will take care of everything. Your mission is our calling.

 

 

Election & Bond Services Include:

  • Election consulting

  • Preparation of the Election Order

  • Attendance at the Board meeting to call the election

  • Preparation of the election notice and official ballots in both English and Spanish

  • Provide detailed guidance on posting required notices throughout the election process

  • Preparation of the canvassing order after the election

  • Ensuring all district bond brochures and election information complies with Texas Ethics Commission Rules.

  • Pricing and closing of bonds

  • Preparation of the order authorizing the sale of the bonds

  • Preparation of the paying agent/registrar agreement

  • Preparation of the escrow agreement (for refunding bonds)

  • Prepare the required certificates, and the bonds.

  • Submit the transcript of proceedings to the Attorney General’s Office for approval and the Texas Comptroller’s office for recording

  • Preparation of bond counsel opinion and all the necessary tax certificates prior to the closing of the bond sale

PLG has helped to bring over $30 Billion of economic development to the State of Texas through the successful negotiation of many Chapter 313 value limitation agreements. Our Firm is committed to representing school districts in these transactions to ensure the highest degree of mutual benefit for the school districts and businesses involved.

What is the Texas Economic Development Act – Chapter 313 of the Texas Tax Code?

Chapter 313:

  • Encourages large-scale capital investments to Texas

  • Attracts new capital-intensive businesses to Texas

  • Creates new, high-paying jobs in Texas

 

What this means for school districts:

  • Chapter 313 generates additional revenue for school districts based on the increased M&O tax base, as well as through supplemental payments and revenue protection benefits, which are not subject to recapture.

  • Chapter 313 enables school districts to leverage the increased tax base to pay its current bonded indebtedness or to consider future facility needs.

  • The Texas Economic Development Act empowers school districts to promote local economic development and is integral in enabling school districts to compete for new capital investment projects.

  • Additionally, the Texas Economic Development Act grants school districts the authority to offer competitive property tax incentives to capital-intensive businesses.