Government Capital Corporation

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

Government

CITY OF CARLTON ANNOUNCES CONSTRUCTION OF NEW CIVIC CENTER

By


City of Carlton LogoCarlton, OR (March 2023) – The City of Carlton has begun construction of a new civic center. The previous city hall building has been demolished to make room for the new 12,854 square foot facility which will provide community space and house the Carlton City Hall as well as the Carlton Public Safety Department. The new center will include public restrooms, an interactive history of Carlton, a hub for local business networking, and flexible community space for public and private functions. The facility is anticipated to open by the end of 2024. The architect for the project is Holst Architecture, and financing for the project was provided by Government Capital Corporation, Southlake, TX.

“We had a very positive experience working with Government Capital on this project,” stated Christy Martinez, Assistant City Manager, City of Carlton. “We’re thankful for the communication the team provided throughout the process and how they followed through on getting us to the finish line.”

“I want to congratulate the City of Carlton on their new civic center,” commented Marti Sauls, Municipal Finance Specialist, Government Capital Corporation. “We take great pride in assisting Oregon cities in meeting their goals and objectives.”

About the City of Carlton

The City of Carlton was settled by homesteaders in the 1840s and has grown to a current population of 2,135 residents. The city is situated between Portland and the Pacific coast and has a rich history of agriculture, logging, and wine production. Presently, the city is known as the Wine Capital of Oregon. To learn more about the City of Carlton, visit www.ci.carlton.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 and its affiliates have successfully completed thousands of municipal financings exceeding $5 billion in Oregon and across the country. For more information, visit www.govcap.com.

MUNICIPAL DEBT ISSUANCES SET A RECORD AS MONETARY POLICY REMAINS UNCHANGED

By

The outlook for the 2021 U.S. economy remains a bit hazy and many questions remain about the further reopening of the economy.  Many are projecting growth, particularly in the second half of 2021.  Additionally, most economists agree there is pent-up demand from 2020 which could spur economic growth as our economy gradually opens back up.

Consistent with their message from the fourth quarter of 2020, the Federal Reserve’s Open Market Committee announced in late January 2021 it is “committed to using its full range of tools to support the U.S. economy in this challenging time.”  They want to keep the federal funds overnight borrowing rate unchanged in the 0.00% to 0.25% range and will continue to inject additional money into the economy by purchasing at least $80 billion of U.S. Treasury securities and at least $40 billion of mortgage-backed securities per month.  Federal Reserve Chairman Jerome Powell reiterated the current monetary policies will most likely stay the same for the foreseeable future until we reach maximum employment levels or inflation greater than 2%.  Many on the Federal Reserve’s committee don’t expect much tapering of this policy until late 2022 or 2023.

Although the United States Congress enacted a $900 billion rescue aid package in December for individuals, many economists fear a potential recession if Congress cannot agree on another stimulus package by the end of the first quarter of 2021.  The new administration is pushing for lawmakers to approve a $1.9 trillion package to support the economy.  However, with the nation’s current debt approaching $28 trillion, many are concerned that too much spending could spur unwanted inflation.  Average consumers are already feeling some of these effects with the increase in essential goods prices and overall, decreased purchasing power of the dollar.  In the municipal sector, construction costs in multiple areas of the country have nearly doubled in just the past four to five years.  Essential equipment which municipalities purchase every year has also been increasing well above the Fed’s stated inflation rate. 

In 2020, municipal debt issuances reached an all-time high with over $475 billion of issuances which represents a 9% increase from 2019.  Of these municipal issuances, almost $200 billion were refundings as municipalities across the country took advantage of historically low rates to help combat budget pressures caused by the pandemic.  This was the highest amount of refundings since 2017.  Many municipal bond surveys are projecting another high-volume year of municipal issuances as the Federal Reserve continues their quantitative easing and keeps interest rates low.

So, it appears our economy as a whole and U.S. citizens individually will be further tested again in 2021.  Despite all the challenges we’ve endured, we know Americans will again prevail in the face of any adversity.  Moody’s Investor Services continues to affirm the United States’ Aaa rating as evidence of our economic strength, even though our fiscal strength has weakened during the pandemic.

 

 

CARENCRO UTILIZES LAMATS PURCHASING SERVICES FOR AN EQUIPMENT ACQUISITION

By

Carencro, LA (January 2020) – The City of Carencro announces the delivery of a new excavator for its utility department. The 2016 Gradall D-152 excavator provided by Scott Equipment represents a much needed addition to the fleet. The City selected the Louisiana Municipal Advisory and Technical Services Bureau (LaMATS) cooperative lease purchase program administered by Government Capital Corporation (GCC) as the most economical financing solution.

“The tax exempt lease purchase structured by Government Capital Corporation was the perfect solution. In addition to reduced interest cost compared to the lease offering provided by the equipment manufacturers, the process was quick, easy and enabled us to take delivery of the equipment on our schedule,” stated Mayor Glenn Brasseaux.

LaMATS Executive Director Cliff Palmer stated, “LaMATS continues to have complete confidence in Government Capital as our municipal finance partner. When a municipality is considering a lease-purchase of equipment, our cooperative program is a great option.”

About Carencro, Louisiana: The City of Carencro is eight miles north of Lafayette on Interstate 49. With a population of approximately 9,600, Carencro is a great place to live, work and play. Our community is united behind our Cajun and Creole heritage, and we pride ourselves in the preservation of our traditions while moving into the future. The heart of our city is its citizens, and Carencro offers resources for our citizens to enhance their way of life and come together as a community. www.carencro.org or Mayor Glenn Brasseaux, 337-896-7001.

About Louisiana Municipal Advisory and Technical Services Bureau (LaMATS): The Louisiana Municipal Advisory and Technical Services Bureau (LaMATS) was established in 1998 and is a wholly-owned subsidiary of the Louisiana Municipal Association (LMA). The mission of LaMATS is to bring economical and efficient services that assist the LMA membership with their day-to-day business. LaMATS offers a variety of services and programs including: Insurance Premium Tax Collection Program, Occupational License Program, LaMATS Purchasing Services, Millage Management, Municipal Debt Recovery, etc. For more information: lamats.net, or Cliff Palmer, Executive Director, 225-316-7157.

About Government Capital Corporation: Government Capital Corporation is a leading public finance firm providing professional financial services to municipalities, parishes, fire districts, schools and other local governmental entities. Since its founding in 1992, the company has successfully completed thousands of project financings in Louisiana and across the country. For more information: www.govcap.com, DC Greer or Marti Sauls, 800-883-1199 DC.Greer@govcap.com or Marti.Sauls@govcap.com

###

TRAVIS CENTRAL APPRAISAL DISTRICT ANNOUNCES FACILITY ACQUISITION & RENOVATIONS TO MAIN OFFICE

By

Austin, Texas (August 2019) – The Travis Central Appraisal District announces the purchase and renovation of the former National Western Life Insurance Building in North Austin. After various renovations are completed, the 73,000 square foot facility will serve as the Travis Central Appraisal District’s main office. With construction currently underway, the renovations are expected to be completed in the Spring of 2020.

Marya Crigler, Chief Appraiser of Travis Central Appraisal District stated, “The much needed facility renovations will allow us to better serve the constituents of Travis County for many years.” Travis CAD selected Government Capital Corporation as the financing solution for the project and Naman, Howell, Smith & Lee, PLLC served as bond counsel in connection with the project.

“This is a great example of dedicated leaders being responsible with their resources and diligently assessing the needs of the Appraisal District,” stated Stephanie Cates, Government Capital Corporation Vice President of Client Services. “We would like to congratulate Marya Crigler, Chief Appraiser, and the Travis Central Appraisal District Board for their work and foresight.”

About Travis Central Appraisal District
The mission of Travis Central Appraisal District, in accordance with the Texas Constitution and the laws of the state, is to provide accurate appraisal of all property in Travis County at one hundred percent market value, equally and uniformly, in a professional, ethical, economical and courteous manner, working to ensure that each taxpayer pays only their fair share of the property tax burden. Today the Travis Central Appraisal District appraises property of approximately 873 square miles and is responsible for almost 380,000 tax accounts. For more information, visit www.traviscad.org.

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

# # #

UMATILLA MORROW RADIO & DATA DISTRICT MAKES DISTRICT‐WIDE COMMUNICATION SYSTEM ENHANCEMENTS

By

Pendleton, Oregon (April 2019) ‐ The Umatilla Morrow Radio & Data District recently announced the upgrade of their district‐wide public safety communication system. This upgrade will include site infrastructure, dispatch consoles and subscriber units. Installation is to begin immediately, with completion scheduled for the fall of 2020. The communication system was designed by RACOM. The district selected Government Capital Corporation as the most cost effective financing solution for the project.

“Building the best public safety communications system possible with our relatively small budget is a priority for our district. The expertise and experience provided by Government Capital Corporation has helped us past the first hurdle and we are closer to reaching that goal,” stated Shawn Halsey, District Administrator.

“I would like to congratulate the district’s leadership on the implementation of this valuable project which will serve the constituents for many years. We take great pride in being able to provide financings to enable first responders to serve their communities better,” commented Joshua Rosser, Government Capital Public Finance Specialist.

About Umatilla Morrow Radio & Data District
The mission of the Umatilla Morrow Radio & Data District is to provide quality public safety communications support to all system users and to provide this service in the most cost effective manner possible. The ability to form a radio and data district was created in 2009 when the Oregon Legislature passed and Governor Kulongoski signed House Bill 3254. The District is funded by a property tax of $.17 per $1000 of assessed value for those residing within the district. For more information, visit umrdd.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 project financings in Texas and across the nation. For more information, visit govcap.com.

 

# # #

OLDHAM COUNTY APPRAISAL DISTRICT APPROVES NEW FACILITY ACQUISITION & IMPROVEMENTS

By

Vega, Texas (March 2019) – Oldham County Appraisal District announces the approval of a project to acquire new facilities and provide building renovations. The ribbon cutting is scheduled for late March. Local firms are providing the engineering, design and improvements and Government Capital Corporation’s financing proposal was selected as the most cost effective financing solution for the project.

“After months of planning, we are excited to implement this important project. In addition to providing the budget flexibility our District needed, the proposal offered by Government Capital allowed our District to avoid unnecessary traditional closing costs such as an appraisal, title policy, insurance and an environmental study,” affirmed Leann Voyles, Chief Appraiser of Oldham CAD.

“I’d like to offer congratulations to the leadership of Oldham County Appraisal District for their successful implementation of this important project that will benefit the constituents of Oldham County for years,” stated Drew Whitington, Government Capital Corporation Public Finance Specialist.

About Oldham County, Texas

Oldham County, located in the Texas Panhandle and is known for farming wheat, wind farms, oil and gas and is home to some of the largest ranches in the nation. The County’s population is currently estimated at over 2,000. Additionally, the Cal Farley’s Boys Ranch located in Oldham County, is one of the nation’s largest privately-funded child and family service organizations. The ranch has been in operation for 80 years. For more information, visit co.oldham.tx.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 project financings in Texas and across the nation. For more information, visit www.govcap.com.

 

# # #