Chambers County authorizes $2026 certificates of obligation sale to Jefferies LLC
September 22, 2026 | Chambers County, Texas
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The court authorized the issuance and sale of Chambers County combination tax and revenue certificates of obligation, Series 2026, and approved sale terms to Jefferies LLC after county financial adviser James Dilly reported a competitive bidding process.
James Dilly told the court five investors submitted bids and Jefferies LLC of New York offered the winning terms; he characterized the result as a favorable outcome given recent market volatility. "We got a lot of attention nationwide," Dilly told the court and said the best two bids were separated by just over two basis points. Bond counsel Gregory Miller said counsel has prepared the order for state and federal compliance and that the county will forward documents to the attorney general's office; he estimated the closing would occur in about 30 days.
One commissioner expressed concern that some project amenities in the certificates might have merited a public vote, but the motion to authorize the sale carried. The court directed staff and bond counsel to finalize documentation and proceed with the transaction as presented.
James Dilly told the court five investors submitted bids and Jefferies LLC of New York offered the winning terms; he characterized the result as a favorable outcome given recent market volatility. "We got a lot of attention nationwide," Dilly told the court and said the best two bids were separated by just over two basis points. Bond counsel Gregory Miller said counsel has prepared the order for state and federal compliance and that the county will forward documents to the attorney general's office; he estimated the closing would occur in about 30 days.
One commissioner expressed concern that some project amenities in the certificates might have merited a public vote, but the motion to authorize the sale carried. The court directed staff and bond counsel to finalize documentation and proceed with the transaction as presented.
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