SWBC Investment Services a Co-Senior for Hidalgo County, TX, Certificates of Obligation, Series 2023

Press Release from SWBC

SAN ANTONIO, Oct. 26, 2023 /PRNewswire/ -- SWBC Investment Services, LLC, announced it was named Co-Senior on the Hidalgo County, Texas, Certificates of Obligation, Series 2023.

SWBC (PRNewsfoto/SWBC)

Issuer:Hidalgo County
Issue: Certificates of Obligation, Series 2023
Security Type: Certificates of Obligation, Series 2023
Tax Treatment: Tax Exempt
Amount: $42,185,000
SWBC's Role: Co-Senior
Sale Type: Negotiated Underwriting
Sale Date:9/25/2023
Settlement Date:10/19/2023
Use of Proceeds: Public Improvements

"As a Texas-based company, we are once again thrilled to work with Hidalgo County and the other syndicate managers to have a successful bond issuance," said John Tuohy, CEO of SWBC Investment Services. "We look forward to working with Texas municipalities as we continue to grow our footprint."

The certificates will be used to pay for:

  • Contractual obligations associated with acquisition of land, buildings, and improvements for parking lot infrastructure, equipment, and fixtures
  • Construction of a county animal control facility
  • Construction of county buildings to include demolition of existing courthouse, memorials, and parking lots
  • Renovation, repair, and improvements to existing buildings to comply with the American Disabilities Act
  • Construction and reconstruction of drainage systems and road systems
  • Acquisition of land for parks development and cost of improvement and equipment
  • Acquisition of land, rights of way, materials, and traffic control used for installation, construction, and improvements of drainage systems and road systems
  • Payment for services provided by engineers, attorneys, financial advisors, and fiscal agents
  • The purchase of road, drainage, parks, sanitation construction, and other heavy maintenance equipment and machinery.

In 2018, SWBC Investment Services launched its public finance business for a diverse number of public entities, including cities and counties; higher education institutions; independent school districts; municipal utility, water, drainage, and special districts; and regional transportation districts. Since then, the company has managed over $1 billion of new issue municipal bond financing transactions.

About SWBC
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages business around the world. No matter how wide its reach, SWBC always listens to our customers' needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC's website at www.swbc.com. Securities offered by SWBC Investment Services, LLC, member SIPC & FINRA. Advisory services offered by SWBC Investment Services Company, a Registered Investment Advisor.

John Tuohy, CEO of SWBC Investment Services (PRNewsfoto/SWBC)

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