Perm Impr Ref Bonds Ser 2025A
$265,940,000 of principal outstanding at the end of fiscal year 2025.
Terms
- Par amount
- $265,940,000
- Final maturity
- 3/15/2056
- New money / refunding
- New money Not reportedRefunding $265,940,000
- Closing date
- 8/19/2025
- Purpose
- Refunding
- Sale
- Negotiated
- Pledge
- Tax 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 | Bancroft Capital LLC | $62,562 Paid by the underwriter |
| Underwriter | Huntington Securities Inc | $33,366 Paid by the underwriter |
| Underwriter | JP Morgan Securities LLC | $114,577 Paid by the underwriter |
| Underwriter | Loop Capital Markets LLC | $62,562 Paid by the underwriter |
| Underwriter | Mesirow Financial Inc. | $33,366 Paid by the underwriter |
| Underwriter | Ramirez & Co Inc | $125,124 Paid by the underwriter |
| Underwriter | Stifel Nicolaus & Company Inc | $358,689 Paid by the underwriter |
| Underwriter | Truist Securities Inc. | $33,366 Paid by the underwriter |
| Bond counsel | Levi Benton & Associates PLLC | $72,750 |
| Bond counsel | McCall Parkhurst & Horton LLP | $169,750 |
| Disclosure counsel | Bates Law Firm PLLC | $54,000 |
| Underwriter's counsel | Cantu Harden Montoya LLP | $36,168 Paid by the underwriter |
| Underwriter's counsel | Winstead PC | $54,252 Paid by the underwriter |
| Rating agency | Kroll | $27,370 |
| Rating agency | Moodys | $42,108 |
| Paying agent, trustee and escrow | Bank of New York Mellon Trust Co | $1,500 |
| Paying agent, trustee and escrow | Public Finance Partners LLC | $2,163 |
| Printing, disclosure and data services | Holland & Knight LLP | $126,000 |
| Printing, disclosure and data services | ImageMaster LLC | $2,105 |
| Other costs | Bank of New York Mellon Trust Co | $1,000 |
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$265,940,000 | Interest$206,765,413 | Total debt service$472,705,413 |
Costs of issuance
Download CSVOne-time costs to the issuer: $510,354, or $1.92 per $1,000 of par.
Shown below but not added: $914,033 paid by the underwriter.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 2 fees | 47.5% of the issuer's costs | Subtotal $242,500 | Per $1,000$0.91 | |
| Similar issues: median $0.78 per $1,000 | ||||
| CostCo-bond counsel | Paid toLevi Benton & Associates PLLC | TypeOne time | Amount$72,750.00 | Per $1,000$0.27 |
| CostCo-bond counsel | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$169,750.00 | Per $1,000$0.64 |
| CostDisclosure counsel 1 fee | 10.6% of the issuer's costs | Subtotal $54,000 | Per $1,000$0.20 | |
| Similar issues: median $0.48 per $1,000 | ||||
| CostCo-disclosure counsel | Paid toBates Law Firm PLLC | TypeOne time | Amount$54,000.10 | Per $1,000$0.20 |
| CostUnderwriter 8 fees | Subtotal $823,613 | Per $1,000Not added | ||
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toBancroft Capital LLC | TypeOne time | Amount$62,562.00 | Per $1,000$0.24 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toHuntington Securities Inc | TypeOne time | Amount$33,366.40 | Per $1,000$0.13 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toJP Morgan Securities LLC | TypeOne time | Amount$114,576.98 | Per $1,000$0.43 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toLoop Capital Markets LLC | TypeOne time | Amount$62,562.00 | Per $1,000$0.24 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toMesirow Financial Inc. | TypeOne time | Amount$33,366.40 | Per $1,000$0.13 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toRamirez & Co Inc | TypeOne time | Amount$125,124.00 | Per $1,000$0.47 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toStifel Nicolaus & Company Inc | TypeOne time | Amount$358,688.80 | Per $1,000$1.35 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toTruist Securities Inc. | TypeOne time | Amount$33,366.40 | Per $1,000$0.13 |
| CostUnderwriter's counsel 2 fees | Subtotal $90,420 | Per $1,000Not added | ||
| CostCo-underwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toCantu Harden Montoya LLP | TypeOne time | Amount$36,167.84 | Per $1,000$0.14 |
| CostUnderwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toWinstead PC | TypeOne time | Amount$54,251.76 | Per $1,000$0.20 |
| CostRating agency 2 fees | 13.6% of the issuer's costs | Subtotal $69,479 | Per $1,000$0.26 | |
| Similar issues: median $0.88 per $1,000 | ||||
| CostRating agency | Paid toKroll | TypeOne time | Amount$27,370.48 | Per $1,000$0.10 |
| CostRating agency | Paid toMoodys | TypeOne time | Amount$42,108.43 | Per $1,000$0.16 |
| CostOther 8 fees | 28.3% of the issuer's costs | Subtotal $144,375 | Per $1,000$0.54 | |
| Similar issues: median $0.09 per $1,000 | ||||
| CostAttorney General review | Paid toNot reported | TypeOne time | Amount$9,500.00 | Per $1,000$0.04 |
| CostDisclosure | Paid toHolland & Knight LLP | TypeOne time | Amount$126,000.24 | Per $1,000$0.47 |
| CostEscrow agent | Paid toBank of New York Mellon Trust Co | TypeOne time | Amount$750.00 | Per $1,000Under $0.01 |
| CostEscrow verification | Paid toPublic Finance Partners LLC | TypeOne time | Amount$2,163.43 | Per $1,000$0.01 |
| CostOther costs | Paid toNot reported | TypeOne time | Amount$2,105.43 | Per $1,000$0.01 |
| CostOther general COI | Paid toBank of New York Mellon Trust Co | TypeOne time | Amount$1,000.00 | Per $1,000Under $0.01 |
| CostPaying agent and registrar | Paid toBank of New York Mellon Trust Co | TypeOne time | Amount$750.00 | Per $1,000Under $0.01 |
| CostPrinting | Paid toImageMaster LLC | TypeOne time | Amount$2,105.43 | Per $1,000$0.01 |
| CostTotal, 23 fees | Amount$1,424,386 | Per $1,000 | ||
| CostCosts to the issuer | Amount$510,354 | Per $1,000$1.92 | ||
Bond counsel 2 fees47.5%$242,500$0.91 per $1,000Similar issues: median $0.78 per $1,000
- Cost
- Co-bond counsel
- Paid to
- Levi Benton & Associates PLLC
- Type
- One time
- Amount
- $72,750.00
- Per $1,000
- $0.27
- Cost
- Co-bond counsel
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $169,750.00
- Per $1,000
- $0.64
Disclosure counsel 1 fee10.6%$54,000$0.20 per $1,000Similar issues: median $0.48 per $1,000
- Cost
- Co-disclosure counsel
- Paid to
- Bates Law Firm PLLC
- Type
- One time
- Amount
- $54,000.10
- Per $1,000
- $0.20
Underwriter 8 fees$823,613Not added
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Bancroft Capital LLC
- Type
- One time
- Amount
- $62,562.00
- Per $1,000
- $0.24
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Huntington Securities Inc
- Type
- One time
- Amount
- $33,366.40
- Per $1,000
- $0.13
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- JP Morgan Securities LLC
- Type
- One time
- Amount
- $114,576.98
- Per $1,000
- $0.43
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Loop Capital Markets LLC
- Type
- One time
- Amount
- $62,562.00
- Per $1,000
- $0.24
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Mesirow Financial Inc.
- Type
- One time
- Amount
- $33,366.40
- Per $1,000
- $0.13
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Ramirez & Co Inc
- Type
- One time
- Amount
- $125,124.00
- Per $1,000
- $0.47
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Stifel Nicolaus & Company Inc
- Type
- One time
- Amount
- $358,688.80
- Per $1,000
- $1.35
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Truist Securities Inc.
- Type
- One time
- Amount
- $33,366.40
- Per $1,000
- $0.13
Underwriter's counsel 2 fees$90,420Not added
- Cost
- Co-underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Cantu Harden Montoya LLP
- Type
- One time
- Amount
- $36,167.84
- Per $1,000
- $0.14
- Cost
- Underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Winstead PC
- Type
- One time
- Amount
- $54,251.76
- Per $1,000
- $0.20
Rating agency 2 fees13.6%$69,479$0.26 per $1,000Similar issues: median $0.88 per $1,000
- Cost
- Rating agency
- Paid to
- Kroll
- Type
- One time
- Amount
- $27,370.48
- Per $1,000
- $0.10
- Cost
- Rating agency
- Paid to
- Moodys
- Type
- One time
- Amount
- $42,108.43
- Per $1,000
- $0.16
Other 8 fees28.3%$144,375$0.54 per $1,000Similar issues: median $0.09 per $1,000
- Cost
- Attorney General review
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,500.00
- Per $1,000
- $0.04
- Cost
- Disclosure
- Paid to
- Holland & Knight LLP
- Type
- One time
- Amount
- $126,000.24
- Per $1,000
- $0.47
- Cost
- Escrow agent
- Paid to
- Bank of New York Mellon Trust Co
- Type
- One time
- Amount
- $750.00
- Per $1,000
- Under $0.01
- Cost
- Escrow verification
- Paid to
- Public Finance Partners LLC
- Type
- One time
- Amount
- $2,163.43
- Per $1,000
- $0.01
- Cost
- Other costs
- Paid to
- Not reported
- Type
- One time
- Amount
- $2,105.43
- Per $1,000
- $0.01
- Cost
- Other general COI
- Paid to
- Bank of New York Mellon Trust Co
- Type
- One time
- Amount
- $1,000.00
- Per $1,000
- Under $0.01
- Cost
- Paying agent and registrar
- Paid to
- Bank of New York Mellon Trust Co
- Type
- One time
- Amount
- $750.00
- Per $1,000
- Under $0.01
- Cost
- Printing
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $2,105.43
- Per $1,000
- $0.01
- Total, 23 fees
- $1,424,386
- Costs to the issuer
- $510,354$1.92 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.