Spec Assessment Rev Bonds Ser 2025 (Valverde PID Impr Area 1)
$12,303,000 of principal outstanding at the end of fiscal year 2025.
Terms
- Par amount
- $12,303,000
- Final maturity
- 3/1/2056
- New money / refunding
- New money $12,303,000Refunding Not reported
- Closing date
- 4/17/2025
- Purpose
- Water and sewer
- Sale
- Negotiated
- Pledge
- Revenue supported
- Fiscal year issued
- 2025
Changes in BRB's data
No changes since this site began recording on October 6, 2026.
Source: BRB data loads; as of 10/18/2026.
Finance team
Download CSV| Role? | Firm? | Fees paid? |
|---|---|---|
| Underwriter | FMSbonds Inc | $246,060 Paid by the underwriter |
| Financial advisor | Specialized Public Finance Inc | $67,161 |
| Bond counsel | McCall Parkhurst & Horton LLP | $312,575 |
| Underwriter's counsel | Greenberg Traurig LLP | $123,030 Paid by the underwriter |
| Other counsel | Winstead PC | $10,000 |
| Paying agent, trustee and escrow | BOKF NA | $6,000 |
| Printing, disclosure and data services | ImageMaster LLC | $2,443 |
| Engineers, accountants and other consultants | P3Works LLC | $7,989 |
| Other costs | Barletta & Associates Inc | $12,000 |
From the costs of issuance reported to BRB. A firm that was not paid a reported fee is not listed.
Debt outstanding by fiscal year
Fiscal year 2025
- Principal
- Interest
| Fiscal year? | Principal? | Interest? | Total debt service? |
|---|---|---|---|
| Fiscal year2025 | Principal$12,303,000 | Interest$13,338,534 | Total debt service$25,641,534 |
Costs of issuance
Download CSVOne-time costs to the issuer: $452,168, or $36.75 per $1,000 of par.
Shown below but not added: $369,090 paid by the underwriter.
Annual fees: $4,500.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 2 fees | 69.1% of the issuer's costs | Subtotal $312,575 | Per $1,000$25.41 | |
| Similar issues: median $20.00 per $1,000 | ||||
| CostBond counsel | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$307,575.00 | Per $1,000$25.00 |
| CostBond counsel expense | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$5,000.00 | Per $1,000$0.41 |
| CostFinancial advisor 1 fee | 14.9% of the issuer's costs | Subtotal $67,161 | Per $1,000$5.46 | |
| Similar issues: median $20.00 per $1,000 | ||||
| CostFinancial advisor | Paid toSpecialized Public Finance Inc | TypeOne time | Amount$67,160.94 | Per $1,000$5.46 |
| CostUnderwriter 2 fees | Subtotal $246,060 | Per $1,000Not added | ||
| CostUnderwriter's spread: expenses Counted as: Paid by the underwriter: shown, not added | Paid toFMSbonds Inc | TypeOne time | Amount$3,600.00 | Per $1,000$0.29 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toFMSbonds Inc | TypeOne time | Amount$242,460.00 | Per $1,000$19.71 |
| CostUnderwriter's counsel 1 fee | Subtotal $123,030 | Per $1,000Not added | ||
| CostUnderwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toGreenberg Traurig LLP | TypeOne time | Amount$123,030.00 | Per $1,000$10.00 |
| CostOther 8 fees | 16.0% of the issuer's costs | Subtotal $72,432 | Per $1,000$5.89 | |
| Similar issues: median $8.04 per $1,000 | ||||
| CostAttorney General review | Paid toNot reported | TypeOne time | Amount$9,500.00 | Per $1,000$0.77 |
| CostCity attorney | Paid toNot reported | TypeOne time | Amount$29,000.00 | Per $1,000$2.36 |
| CostOther costs | Paid toBarletta & Associates Inc | TypeOne time | Amount$12,000.00 | Per $1,000$0.98 |
| CostPID administrator | Paid toP3Works LLC | TypeOne time | Amount$7,989.16 | Per $1,000$0.65 |
| CostPrinting | Paid toImageMaster LLC | TypeOne time | Amount$2,442.54 | Per $1,000$0.20 |
| CostTrustee Counted as: Annual fee: not added | Paid toBOKF NA | TypeAnnual | Amount$4,500.00 | Per $1,000$0.37 |
| CostTrustee | Paid toBOKF NA | TypeOne time | Amount$1,500.00 | Per $1,000$0.12 |
| CostTrustee counsel | Paid toWinstead PC | TypeOne time | Amount$10,000.00 | Per $1,000$0.81 |
| CostTotal, 14 fees | Amount$825,758 | Per $1,000 | ||
| CostCosts to the issuer | Amount$452,168 | Per $1,000$36.75 | ||
Bond counsel 2 fees69.1%$312,575$25.41 per $1,000Similar issues: median $20.00 per $1,000
- Cost
- Bond counsel
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $307,575.00
- Per $1,000
- $25.00
- Cost
- Bond counsel expense
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $5,000.00
- Per $1,000
- $0.41
Financial advisor 1 fee14.9%$67,161$5.46 per $1,000Similar issues: median $20.00 per $1,000
- Cost
- Financial advisor
- Paid to
- Specialized Public Finance Inc
- Type
- One time
- Amount
- $67,160.94
- Per $1,000
- $5.46
Underwriter 2 fees$246,060Not added
- Cost
- Underwriter's spread: expenses
Counted as: Paid by the underwriter: shown, not added - Paid to
- FMSbonds Inc
- Type
- One time
- Amount
- $3,600.00
- Per $1,000
- $0.29
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- FMSbonds Inc
- Type
- One time
- Amount
- $242,460.00
- Per $1,000
- $19.71
Underwriter's counsel 1 fee$123,030Not added
- Cost
- Underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Greenberg Traurig LLP
- Type
- One time
- Amount
- $123,030.00
- Per $1,000
- $10.00
Other 8 fees16.0%$72,432$5.89 per $1,000Similar issues: median $8.04 per $1,000
- Cost
- Attorney General review
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,500.00
- Per $1,000
- $0.77
- Cost
- City attorney
- Paid to
- Not reported
- Type
- One time
- Amount
- $29,000.00
- Per $1,000
- $2.36
- Cost
- Other costs
- Paid to
- Barletta & Associates Inc
- Type
- One time
- Amount
- $12,000.00
- Per $1,000
- $0.98
- Cost
- PID administrator
- Paid to
- P3Works LLC
- Type
- One time
- Amount
- $7,989.16
- Per $1,000
- $0.65
- Cost
- Printing
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $2,442.54
- Per $1,000
- $0.20
- Cost
- Trustee
Counted as: Annual fee: not added - Paid to
- BOKF NA
- Type
- Annual
- Amount
- $4,500.00
- Per $1,000
- $0.37
- Cost
- Trustee
- Paid to
- BOKF NA
- Type
- One time
- Amount
- $1,500.00
- Per $1,000
- $0.12
- Cost
- Trustee counsel
- Paid to
- Winstead PC
- Type
- One time
- Amount
- $10,000.00
- Per $1,000
- $0.81
- Total, 14 fees
- $825,758
- Costs to the issuer
- $452,168$36.75 per $1,000
Per $1,000 is computed here from each amount and the par. Subtotals and totals are rounded to the whole dollar.
How these costs are counted
- Net spread counted once. Takedown, management fee, spread expenses and underwriting risk make up the underwriter's spread. Where an issue reports an amount for any of them, its row for the underwriter's net spread (the same spread as one figure) is shown as a cross-check and not added.
- Paid by the underwriter: shown, not added to the issuer's costs. Rows BRB's table marks as paid by the underwriter (whether the underwriter paid the fee) are shown and count in the fees paid to that firm and role, but not in the issuer's one-time costs, per-$1,000 figures or medians.
- The issuer's one-time costs add every other one-time row: not annual fees, not rows paid by the underwriter, not the cross-check. Per $1,000 of par divides them by the issue's par and multiplies by 1,000 (computed here).
- Missing, zero and negative amounts. A row with no amount shows "Not reported" and is added to nothing. A reported $0 counts as $0, in sums and medians. A negative amount is added as reported; where a role's or firm's one-time costs on an issue come to less than $0, that issue is left out of the medians.
- Similar issues. The median per $1,000 of par for that group across other issues by the same type of issuer, with the same pledge, sold the same way, a par half to twice this one's and a fiscal year within 3 years, shown when at least 5 report it.
- Per $1,000 on each row is computed here from its amount and the par, not taken from BRB's rounded figure.
EMMA links are added as each issue is matched.
Source: Local Issuance Fee By Year (updated by the publisher 10/6/2026); Debt Outstanding By Issuance Local By Year (updated by the publisher 9/9/2026). Loaded here 10/18/2026.
Texas fiscal years run September 1 to August 31.
Issuer names are shown as published, without source footnote letters.
Figures are as reported to the agency and have not been independently verified.