Government Capital Corporation

Government Capital Corporatoin is a leading public finance firm offering its clients a broad range of financing solutions.

Paige Locknane

SILVERHILL ACQUIRES NEW APPARATUS

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Silverhill, AL (January 2021) – The Silverhill Fire Department announces the recent delivery of a new tanker truck.  The 2021 E-One VMT2 tanker truck increases the pump capacity to 1,250 GPM and storage capacity to 2,000 gallons, stated Josh Rice, Silverhill Fire Chief.  “Additionally, the new truck increased firefighter capacity to five firefighters.”  Sunbelt Fire Incorporated; in Fairhope, Alabama was selected as the equipment provider. Government Capital Corporation, Southlake Texas provided the financing for the acquisition.

“Government Capital Corporation’s knowledge and expertise of the unique needs of fire departments was a great overall value to us,” remarked Josh Rice, Silverhill Volunteer Fire Department. “The tax-exempt lease purchase was a simple and straightforward process.”

“It was a privilege to work with Chief Josh Rice on this important procurement,” stated Marti Sauls of Government Capital Corporation. “This tanker truck will meet their needs for many years.”

About Silverhill

Silverhill is located in Baldwin County with a population of 1,000.  Steeped in a rich Swedish and Czech heritage, Silverhill has maintained its’ small-town charm through decades of growth and development.  Silverhill’s first schoolhouse built in 1898, is now the town library.  Upon entering Silverhill you will be greeted with a sign that reads, “Welcome to Silverhill, A Good Place to Live.”  For more information visit,  www.silverhillalabama.com.

About Government Capital Corporation

Government Capital Corporation is a leading public finance firm providing professional financial services to Fire Departments and all other local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 billion in Alabama and across the nation.  For more information, visit www.govcap.com.

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CITY OF LOWELL ACQUIRES LAND FOR FUTURE DEVELOPMENT

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Lowell, Oregon (November 2020) ‐ The City of Lowell, Oregon announces the acquisition of two parcels of land, 205 East Main Street and adjacent lot in Lowell. This property will accommodate future growth for the city. Government Capital Corporation, Southlake, Texas provided the financing for the acquisition. Documents and legal review were provided by Jim Shannon of Mersereau Shannon LLP, Portland, Oregon.

“There were a few obstacles we had to work through, and the Government Capital staff provided great assistance and flexibility,” stated Marsha Miller, Lowell City Administrator. Government Capital Corporation’s experience and expertise were a great value to our acquisition.”

“Congratulations to Marsha Miller, Mayor Don Bennett and the Lowell City Council on the successful acquisitions,” stated Lisa Hott, Government Capital Corporation Client Services Specialist. “Having worked with the City of Lowell on multiple transactions over the past few years, we take great pride in meeting the financial needs of Oregon municipalities.”

About The City of Lowell, Oregon
The City of Lowell located in Lane County, Oregon, has an estimated population of 1,100. Nestled along the foothills of the Cascades, Lowell is on the north shore of the Dexter Reservoir on the Middle Fork Willamette River. Filled with scenic historic covered bridges, the city is known for its’ wild blackberries, wildflowers as well as the annual Oregon Association of Rowers’ Covered Bridge Regatta and the Blackberry Jam Festival. For more information, visit www.ci.lowell.or.us.

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 Billion in Oregon and across the nation. For more information, visit www.govcap.com.

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CITY OF BONHAM ANNOUNCES WATER METER AND ENERGY CONSERVATION PROJECT

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Bonham, TX (November 2020) – The City of Bonham announces the purchase of new Advanced Metering Infrastructure (AMI) water meters and energy conservation equipment. This project includes the installation of 3,300 new automatic reader water meters as well as LED lighting retrofits, AC unit replacement and SCBA tank compressors.  With implementation already underway the project is expected to be completed in April 2021.  Ameresco, Inc. was selected to provide project design and installation services.  Financing for the project was provided by Government Capital Corporation, Southlake, Texas.

“Since 2017 the City of Bonham has completed multiple financings with Government Capital Corporation and we appreciate their experience in municipal financing,” stated Sean Pate, City Manager.  “Government Capital’s expertise was a great value to the overall project.”

“This successful implementation of this project will serve the city of Bonham for many years,” commented Drew Whitington, Government Capital Corporation Client Services.  “It was a pleasure to work with the Bonham city officials.  We take great pride in assisting Texas cities reach their goals and objectives.”

About the City of Bonham
The city of Bonham is in Fannin County approximately 75 miles northeast of the Dallas/Fort Worth metroplex with an approximate population of 10,127. The largest employers of Bonham are the Veterans Medical Center, Texas Department of Criminal Justice and McCraw Oil. Bonham is one of the oldest cities in Texas dating back to 1837. James Bonham, the city’s namesake sought the aid of James Fannin at the Battle of the Alamo. Bonham has a rich history and is a great place to call home. For more information, visit www.cityofbonham.org

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 Billion across Texas and the nation. For more information, visit www.govcap.com

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TOWN OF RICHLAND UPGRADES WATER METERS

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The Town of Richland, NY (November 2020) – The Town of Richland announces the purchase of an AMI meter reading system including 1,000 Stealth Radio MIU Transmitters to retrofit all current bronze meters.  Implementation of this project has begun and is scheduled to be completed in June 2021.  “This upgrade will greatly enhance reporting efficiencies and allow meters to be read and monitored from a central location,” stated Daniel Krupke, Town Supervisor. “The result is the utility will operate more efficiently while improving service to our customers.”  Zenner USA provided the metering solution and Blair Supply Corporation is providing the project design and installation.  Government Capital Corporation, Southlake, Texas provided the financing for the project.

“Government Capital’s expertise and experience was a great value to our project,” stated Daniel Krupke.  “Their knowledge of public sector financing greatly streamlined the project.”

“I want to congratulate Daniel Krupke, Town Supervisor for his foresight and leadership with the upgraded water meters and AMI infrastructure,” stated Paige Locknane, Client Services, Government Capital Corporation. “This investment will benefit the Town of Richland for many years.”

About the Town of Richland
The Town of Richland is unique as it is bordered by Lake Ontario’s eastern shore in Oswego County in the heart of the Salmon River corridor. The Town of Richland offers white sand beaches, state parks, four seasons of recreation and year-round sport fishing. The pride of Richland is the state-of-the art water system that provides award winning water quality, serving Richland and neighboring towns.

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to municipalities, fire districts, schools, hospitals and other local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 billion in New York and across the country. For more information, visit www.govcap.com.

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CITY OF MAUPIN ANNOUNCES REFUNDING SAVINGS

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Maupin, Oregon (November 2020) – The City of Maupin announces the refunding of a Rural Community Assistance Corporation loan. The original note proceeds were used for the 2019 construction of the City of Maupin Civic Center and County Library facility. The refunding reduced the city’s total interest cost more than $200,000.  The loan structure and pricing were provided by Government Capital Corporation, Southlake, Texas. Jim Shannon of Mersereau Shannon LLP, Portland, Oregon provided the documentation and legal review.

“The 20-year fixed rate financing provided by Government Capital not only resulted in savings for our constituents, but was also closed in less than 30 days,” stated Christine Kurtz, Maupin City Recorder. “Additionally, the interest rate was 1.5% lower than our other alternatives and their finance fees were substantially less.”

“It was an honor and a privilege to work alongside Christine and Mayor Lynn Ewing,” stated Lisa Hott of Government Capital Corporation.  “The current economic environment has municipalities searching for ways to streamline their budgets and we were delighted to provide assistance.”

About the City of Maupin
Maupin is located on the Lower Deschutes River at the crossroads between central and eastern Oregon and the Columbia River Gorge. It’s unique location and landscape make it a sought-after place for water and outdoor recreation, with visitors enjoying rafting, fishing, cycling and more. With a population around 430, residents and visitors are drawn to the small-town lifestyle with the amenities of a larger city, such as high-speed fiber internet. Folks often say. “There’s never a bad day in Maupin.” To learn more visit www.cityofmaupin.org

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 Billion in Oregon and across the nation. For more information, visit www.govcap.com

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U.S. ECONOMY & MUNICIPAL MARKET DEMONSTRATE REMARKABLE RESILIENCY

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Over the past quarter, the United States economy has shown much needed improvement each month as we further distance ourselves from the national lockdown which took place back in April.  The gradual economic re-opening coupled with historic fiscal and monetary support has paved the way for our economy to move forward after enduring a major blow when the economy was essentially turned off.  Fortunately, the American work force is resilient and is one of the major backbones of this Country.  Since the lockdown, consumers and businesses have quickly adapted by utilizing new technologies and remote working protocols.  In the process, many companies have developed new strategies which they will leverage even after our country triumphs over the pandemic.

Recent economic data shows improvements in multiple major sectors which endured a substantial blow following the national lockdown measures.  Unemployment peaked in April to 14.7% which has since declined each month to its current rate of 7.9% as of the end of September according to the U.S. Bureau of Labor Statistics.  Retail Sales have been climbing in recent months and are currently 2.2% higher than at this point last year.  The corresponding rebound in sales tax revenue together with a growing economy is expected to provide much needed help for state and local governments whose budgets have been under pressure this year.  In August, pending home sales outperformed projections by more than double and posted its highest monthly increase since 2006.  Most of these positive trends are expected to continue as the economy gradually opens back up.  However, the United States still has many major obstacles to navigate through to get our economy back to where it was before the coronavirus pandemic.

In mid-September, the Federal Reserve announced it would continue to keep interest rates at historical lows for the foreseeable future unless inflation sustainably exceeds their 2% target.  In an attempt to support the U.S. economy, this year the Fed has purchased more than $1 trillion in agency mortgage-backed securities and over $3 trillion in U.S. Treasuries.  These quantitative easing measures which increase the nation’s money supply will continue in the coming months.  The Fed also announced it intends to continue purchasing $120 billion per month in U.S. Treasuries and agency mortgage-backed securities.  As the economy continues to improve, the Fed should be able to gradually decrease their quantitative easing measures.  Hopefully this occurs sooner rather than later as the United States outstanding debt, now totaling almost $27 trillion, will burden the American taxpayers for many decades to come.

Municipal debt issuances have continued to surge over the past four months spurred by low interest rates and a very favorable funding landscape provided by the Fed.  September’s municipal issuances increased over 26% compared to September 2019 and represents the highest September issuance volume since the mid 1980’s.  Many experts are anticipating another record setting month of issuances in October as municipalities want to utilize the current low interest rates to fund projects for their constituents and refinance existing debt at lower borrowing costs.

This year hasn’t been easy to say the least and will be a year talked about for centuries.  Americans have been tested over and over throughout history.  At this moment in our history, it’s important to remember, true character is revealed by actions taken when faced with adversity.  John F. Kennedy once said it this way, “There are risks and costs to action.  But they are far less than the long range risks of comfortable inaction”.

 

Article provided by Zac Saldi
Government Capital Corporation