‹ Harris County Improvement District No. 14 · All districts' issues
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Bonds
2 conflict questions
money moved
Confirm why 'Jack Road Street Dedication and Reserve' ($1,121,284), listed in project records as titled to HCID 13, is financed by HCID 14's road bonds, and what share HCID 13 or others pay.
Tex. Const. art. III §52(a) (return benefit); 30 TAC §293.44(a)(2) may apply by analogy (shared facilities by benefit), though TCEQ does not review road bonds.
The board action behind it
2026-05-19: For the $9,000,000 Series 2026 Unlimited Tax Road Bonds: approved final cost summary; engaged a rating agency; approved Preliminary Official Statement and Notice of Sale; appointed BONY as Paying Agent/Registrar; authorized Masterson to advertise the sale for June 16, 2026; authorized Forvis to prepare the developer reimbursement report
What else happened at that meeting
The Board approved steps toward selling $9,000,000 Series 2026 Unlimited Tax Road Bonds, including the preliminary official statement, a credit rating engagement, and a June 16, 2026 sale date. It approved the annual continuing disclosure report and the Consumer Confidence Report on drinking water. The Board approved change orders and pay estimates on Section 18 utilities and the park landscape project, accepted several offsite easements and deeds conveying a Section 18 park and landscape reserves to the District, and authorized a Phase I Environmental Site Assessment of those tracts. It took no action on a $11,820.00 change order for hauling dirt, authorized BGE to prepare bond application no. 5, and asked that monthly financials be posted on the District website.The law and guidance in force on 2026-05-19
| Road bonds paid from taxes need voter approval (two-thirds for art. III §52 roads) Spec. Dist. Local Laws Code §3882.212(b); Tex. Const. art. III §52(b)
§3882.212(b): Same text in force then and nowart. III §52: Same text in force then and now |
Not shown in the record | Voter authorization is not discussed in these minutes; the Attorney General's approval (next item) checks it. |
| TCEQ approval only for water, sewer or drainage bonds §375.208: Same text in force then and now§3882.007: Same text in force then and now | Doesn't apply | Road bonds are not reviewed by TCEQ, so the 30 TAC ch. 293 developer-reimbursement rules may not bind them. |
| Public purpose, adequate control and return benefit for district money Tex. Const. art. III §52(a)
art. III §52: Same text in force then and now |
Question | The final cost summary approved here includes 'Jack Road Street Dedication and Reserve' ($1,121,284), which project records list as titled to HCID 13. |
Who's involved
Masterson Advisors LLC (financial advisor (also HCID 13's))
BGE, Inc. (district engineer (also HCID 13's engineer))
Allen Boone Humphries Robinson LLP (general and bond counsel (also HCID 13's))
Forvis Mazars, LLP (auditor (also HCID 13's))
The Bank of New York Mellon Trust Company, N.A. (paying agent/registrar)
Rating agency (not named) (credit rating)
Dunham Pointe Development, LLC (developer)
Possible conflicts
BGE, Inc. / Masterson Advisors / ABHR: Prepared the cost summary and offering documents for HCID 14 while also serving HCID 13, which owns the Jack Road reserve items paid from these bonds. (Consultant schedules in the FY2025 audits of HCID 14 (annual-financial-report_FYE-2025-11-30.pdf, PDF p.48) and HCID 13 (hcid013_financereport_20251130.pdf, PDF p.38); Series 2026 Road Bonds official statement, Use and Distribution of Bond Proceeds (on EMMA) ('Jack Road Street Dedication and Reserve' $1,121,284))
Four of five directors: Qualify through developer-deeded tracts with deeds of trust back to the developer, which is reimbursed from these bonds. (Director tract deeds, Harris County Clerk RP-2024-118132, -118134, -118136 and RP-2024-136812, with deeds of trust back to the developer RP-2024-118133, -118135, -118137 and RP-2024-136813)
Cost to the district
Prepares a $9,000,000 debt issue (sold Jun 16, 2026). Rating agency fee not stated.Money or costs moved
HCID 14 → HCID 13: $1,121,284 Road bond line 'Jack Road Street Dedication and Reserve', grouped as a regional facility titled to HCID 13 (Series 2026 Road Bonds official statement, Use and Distribution of Bond Proceeds (on EMMA); grouping by Texas Open Books); HCID 14 taxpayers repay it.
Why the board approved it
Recorded: “Presented by the financial advisor; final cost summary prepared by BGE (p.1-2).”
The steps are the standard sequence. The minutes do not list what the $9,000,000 pays for, or why an HCID 13-titled road and reserve item is in HCID 14's road bonds and at what share.