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Bond firm tops SRBA agenda

Bond firm tops SRBA agenda

December 13th, 2018 by Jennifer Middleton in Texarkana News

The Sulphur River Basin Authority's Board of Directors will meet at 1 p.m. today to consider hiring a bond firm and update a final Sunset Advisory Committee report.

Chairman Chris Spencer said they will hear a presentation from Rudy Segura, Jr. with McCall. Parkhurs & Horton, L.L.P. on future bond proposals.

"In the past, back to 1985, at various times during the history of SRBA, they have employed a bonding firm in the event they needed to issue bonds for a project. However, they did not issue bonds, nor used the firms," Spencer said. "In keeping with moving forward with SRBA, it's important that we retain a firm that specializes in bonds if, and when, the need for a project arises."

The board will also discuss a proposal from the firm to possibly amend and update SRBA's enabling legislation.

"What SRBA wants to do is make sure we have the authority to issue bonds," Spencer said. "We have a legal opinion that we do have that authority in our creating act, but we may initiate legislation to solidify that authority."

Directors will also hear an update on the search for an executive director. Spencer said they will interview a candidate prior to today's meeting and another next week.

"We have no deadline to hire someone," he said. "We would like to have someone hired by the beginning of the year. That way, they can be instrumental in forming our strategic plan. We think that is important our elected officials know we are moving forward not only with the hiring of an executive director, but also with the strategic plan."

The hiring of an executive director and forming a strategic plan are mandated by HB 2180, which was passed during the 85th legislative session and contained the requirements from the Texas Sunset Advisory Commission.

Updates on the final Sunset Advisory Commission Managment Action Report is also on the agenda. Spencer said it is a checklist of items to make sure SRBA is in compliance with all the recommendations and that it should be posted on the website soon.

The meeting will be held at the Mount Pleasant Civic Center, 1800 N. Jefferson, Mount Pleasant, Texas.

The full agenda is available at srbatx.org.

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