A split-decision has allowed McLennan County to float revenue bonds to pay for a new CEC/CiviGenics prison, according to an article by Waco Tribune writer Regina Dennis. The article ("McLennan County approves sale of $49 million in bonds for new county jail," January 13) states,
McLennnan County officials approved the sale of $49 million in project revenue bonds Monday to finance a new jail on State Highway 6.
The bonds are being sold at a coupon rate of 6.625 percent. Investment banking firm Municipal Capital Markets Inc., which is handling the sale, will buy the bonds and resell them to other investors, said Executive Vice President Michael Harling.
Texas Prison Bid'ness readers may recognize Municipal Capital Markets' Harling from our July story on Willacy County's push to be home to a new family detention center. In that story, Harling, a prison-pusher whose fingers have been in many controversial private prison deals throughout the state, was defending ICE's controversial family detention policy.
In this case, according to the Waco Trib, the bond issue did not have unanimous support on the committee,