TEXAS PUBLIC FINANCE

We specialize in supporting the financing needs of Texas municipal issuers.

Services for the State

Our daily involvement in both the competitive and negotiated Texas municipal bond market means we know the field. We provide financial services to assist municipal governments secure the necessary funding for the public improvements desired and needed within the communities we serve.

Complete Capital Market Services

We provide investment banking services such as advisory, bond underwriting and other capital market services for municipal entities throughout the state of Texas.

An Experienced Team

Through BOK Financial Securities and its affiliates, we have approximately 50 locations and over 900 employees within the State of Texas. BOK Financial Securities has assembled an experienced team of professionals to help and support the financial needs of Texas issuers.

Financial Strength

BOK Financial Securities is the full-service broker-dealer of BOK Financial Corporation, one of the top 25 largest U.S.-based, publicly traded bank holding companies.

Our Texas Rankings

We work hard for impressive results. And our IPREO rankings for Senior Managing Underwriting reflect our dedication. Feel free to view our latest rankings, and then talk to us to learn how we can help you succeed.

VIEW RANKINGS

Complete Financial Advisory Services

The role of a financial advisor is more than just helping an issuer through the debt issuance process. It should be an ongoing, trusted partnership. BOK Financial Securities offers a comprehensive scope of consulting services to address all aspects of the issuer's financial needs, including:

  • Debt management and capital improvement plan consultation
  • Bond election consultation
  • Tax ratification election consultation
  • Long-range budget forecasting and state funding consultation
  • Cash/investment management services
  • Executive training/mentoring
  • Strategic planning
  • Peer group comparison
  • Bond rating consultation
  • Continuing disclosure consultation
  • Other Consultation (i.e. Legislative Initiatives, Financial Products, etc.)

 

OUR TEAM (Richardson)


Bill Gumbert

Managing Director, Co-Director of Texas Public Finance
T: (214) 576-0880
bgumbert@bokf.com

Bill Gumbert bio photo Bill Gumbert has 29 years of experience within the Texas municipal finance industry including six years at BOK Financial Securities. Serving as a financial advisor or investment banker, he has successfully completed over $30 billion of debt financings for Texas municipalities, including the use of fixed and variable rate bonds, general obligation, revenue, refunding, “forward delivery” bonds and various other financial products.

Gumbert currently serves as a managing director and co-director of BOK Financial Securities' Texas Public Finance Department. Previously, Gumbert was a managing director with a national firm and his responsibilities included serving as manager of the State of Texas and the Southwest Region of the Municipal Finance Department.

Gumbert graduated from the University of Texas at Austin with a Bachelor’s of Business Administration degree with majors in finance and management. He is also a Financial Industry Regulatory Authority registered securities representative, currently holding Series 7, 24, 53, 63 and 79 licenses. Gumbert is also a former board member of the Municipal Advisory Council of Texas.
Josh McLaughlin

Managing Director, Co-Director of Texas Public Finance
T: (214) 576-0878
jmclaughlin@bokf.com

Josh McLaughlin bio photo Josh McLaughlin is an integral member of BOK Financial Securities' Specialized Texas Municipal Finance Team and has more than 16 years of direct experience within the Texas municipal finance industry. Previously, McLaughlin was a vice president with a national firm serving as a member of their Texas Municipal Finance banking team and Municipal Products Group.

As a managing director and co-director of Texas Public Finance, McLaughlin’s responsibilities include overseeing BOK Financial Securities' public finance activities throughout Texas, as well as providing investment banking services to Texas school districts and municipal issuers, while playing a major role in the analytical and quantitative analyses performed for various issuers throughout Texas. In particular, McLaughlin developed BOK Financial Securities’ financial models to verify and forecast Texas school districts’ state funding for debt service and for long-range debt planning. McLaughlin has also successfully implemented numerous financial strategies, including the use of taxable and tax-exempt fixed and variable rate debt, note programs, an array of financial products and debt alternatives available under the American Recovery and Reinvestment Act.

McLaughlin earned a Bachelor’s of Science degree in Economics with a minor in Business Administration from Texas A&M University. He is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 7, 53, 63 and 79 licenses.
Mike Jolly

Investment Banker
T: (512) 818-1980
mjolly@bokf.com

Mike Jolly bio photo Mike Jolly is a member of BOK Financial Securities' Texas public finance team, responsible for financial advisory and underwriting engagements and is the leader of our statewide education initiatives. Prior to joining BOK Financial Securities, Jolly was a vice president at RBC Capital Markets. In addition, Jolly served as a school administrator for 31 years.

During his school administrator career, he has served as deputy superintendent of business and superintendent of Round Rock Independent School District, associate executive director for business of the Texas Association of School Boards ("TASB") and assistant superintendent of Dumas Independent School District. He is the recipient of the Texas Association of School Business Officials (“TASBO”) Commitment to Excellence Award and Educator of the Month by Texas School Business magazine. He also served as a board member and president of the Texas Association of School Business Officials. He continues to provide services to TASBO as an instructor and consultant.

Jolly has written several school business articles that were published in national and state educational magazines. He earned a Bachelor's of Business Administration degree from West Texas State University with a major in finance. Jolly is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 52 and 63 licenses.
Cathy Bryce

Investment Banker
T: (214) 477-5972
cbryce@bokf.com

Cathy Bryce bio photo Dr. Cathy Bryce joined BOK Financial Securities in July 2009 as a member of its Texas public finance team. She is responsible for assisting with financial advisory and underwriting engagements, including the firm’s bond and tax ratification election consultation and statewide education initiatives.

Most recently, Dr. Bryce retired from Highland Park ISD where she had served as superintendent of schools since 2001. Dr. Bryce has worked in public education for more than 33 years, with 22 of those in administration. Dr. Bryce began her career as an educator in 1975 as a choir director and English teacher. Over her 33-year career, she has also served as a vice principal, principal, assistant superintendent, deputy superintendent and superintendent in districts across North Texas, including Birdville ISD, Carroll ISD, Duncanville ISD, Highland Park ISD, Lewisville ISD and Weatherford ISD.

Dr. Bryce earned a Bachelor of Music Education degree from Midwestern State University, a Master of Education degree from Southwestern Oklahoma State University, and her Doctorate of Education degree from the University of North Texas. Dr. Bryce is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 52 and 63 licenses.
Omar Garcia

Investment Banker
T: (855) 243-5917
ogarcia@bokf.com

Omar Garcia bio photo Omar Garcia joined BOK Financial Securities' Texas public finance team in January 2011. Garcia is an icon in Texas public school finance, having spent much of his adult life working in the school finance division at the Texas Education Agency, and later in the statewide school finance arena at the Region XIII Education Service Center.

While employed at the Texas Education Agency (where he worked for over 28 years) in the Division of State Funding, he became an expert on the use of technology to audit and estimate a school district's state aid and anticipated overall revenues, a necessary component to producing annual budgets. This expertise led Garcia to develop one of the first widely used electronic templates to help public school personnel estimate state aid for use in school budgets. Today, this trusted tool is used by every Texas district regardless of wealth or size.
Rick Menchaca

Managing Director
T: (512) 395-5550
rmenchaca@bokf.com

Rick Menchaca bio photo Rick Menchaca joined the Texas Public Finance Team of BOK Financial Securities after a 22-year career in city management. Prior to joining BOK Financial Securities, his public service career spanned over two decades at the local and state levels. Menchaca was the city manager in the cities of San Marcos and Midland. In San Marcos, he managed a $200 Million CIP while realigning departments to meet the community’s priorities. Appointed in Midland as one of the youngest city managers in Texas for a city of 100,000 population, he launched 4a and 4b economic development sales taxes and managed the construction of an 18k capacity football stadium and a 7k capacity AA baseball stadium. He served in various executive positions with the City of Midland, including deputy and assistant city manager in Midland. Menchaca launched his career with the City of Lubbock as a budget analyst.

During his public service career, his financial accomplishments have resulted in lower interest rates, improved cash reserves and rating agency upgrades. Menchaca has been involved with local government financing including: state transportation, 4b sales tax, airports, public utility agencies, TIRZ and municipal management districts. In addition, Menchaca has successfully implemented economic development programs, capital improvement programs, managed competition reviews and no neighborhood left behind projects. He has also consulted in statewide transportation and P3 projects (public-private-partnerships).

Menchaca received his Master of Public Administration from Texas Tech University and Bachelor of Arts in Government with a minor in finance from Angelo State University. He is also a Financial Industry Regulatory Authority registered securities representative, currently holding series 52 and 63 licenses.
Alison M. Long

Investment Banker
T: (214) 576-0881
alison.long@bokf.com

Alison Long bio photo Alison Long joined BOK Financial Securities' Texas public finance team in June 2009 primarily responsible for providing quantitative support to the firm’s municipal engagements. She provides refunding analysis, debt structuring, cash flow models, credit analysis, and continuing disclosure documents for city, county, state, school district and higher education issuers throughout the State of Texas.

Long earned a Bachelor's of Business Administration degree summa cum laude in Finance and a Bachelor's of Science with Financial Applications degree summa cum laude in Economics from Southern Methodist University. She is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 7, 63 and 79 licenses.
William A. Byars II

Senior Public Finance Analyst
T: (214) 576-0884
wbyars@bokf.com

William Byars bio photo Mr. Byars joined BOK Financial Securities' Texas Municipal Finance Team in November 2012. He is primarily responsible for providing quantitative analyses to support the financing needs of municipal issuers in the national capital markets. He specializes in identifying refunding alternatives to lower borrowing costs, debt structuring, cash flow modeling and credit analysis for the firm’s municipal engagements throughout Texas.

Prior to joining BOK Financial Securities, Byars worked in Australia for an ASX listed company as part of their newly formed Corporate and Commercial Finance division where he focused on developing sustainable capital acquisition programs for educational institutions and corporations. Prior to that, Byars worked for CIT Group where he was responsible for establishing and running their Apple Financial Services division in Australia.

Byars earned a Bachelor's of Business Administration in Finance from Texas State University. He is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 7, 63 and 79 licenses.
Steven Murray

Senior Public Finance Analyst
T: (214) 576-0875
steven.murray@bokf.com

Steven Murray bio photo Steven Murray joined BOK Financial Securities' Texas Municipal Finance Team in November 2013. He is primarily responsible for providing quantitative support to the firm’s municipal engagements including refunding analysis, debt structuring, cash flow models, credit analysis, and continuing disclosure documents for Texas municipal issuers. Prior to joining BOK Financial Securities, Murray was a vice president with First Southwest Company, serving as a member of their fixed income sales and trading team and focusing on the distribution of certain taxable securities and “Bank Qualified” municipal securities.

Murray earned a Bachelor of Music degree and Master of Business Administration degree in Finance at Baylor University. He is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 7, 63 and 99 licenses.

OUR TEAM (HOUSTON)


John Robuck

Managing Director
T: (713) 289-5897
jrobuck@bokf.com

John Robuck bio photo John Robuck is a managing director in the Houston Municipal Finance office of BOK Financial Securities. He specializes in Texas financial advisory, municipal underwriting and private placement services. As a managing director, Robuck’s responsibilities include providing investment banking services to the firm’s clients while playing a role in the analytical and quantitative analyses performed for various issuers throughout the region. Robuck has structured and assisted in the issuance of more than 500 bond transactions totaling more than $18 billion in par amount in his 16 years in the industry. Robuck’s financial advisory clients include more than 25 school districts, cities, counties, and special district municipalities in the Houston metropolitan area. Robuck has successfully implemented numerous financial strategies, which have included the use of taxable and tax-exempt fixed and variable debt, note programs and an array of financial products.

Robuck joined BOK Financial Securities in January 2012. Previously, Robuck was a vice president with RBC Capital Markets serving as a member of their Texas Municipal Finance banking team.

Robuck is a registered securities representative, currently holding Series 7, Series 63 and Series 65 licenses. Robuck holds a B.B.A in Finance and Management Information Systems from Baylor University.
David Katz

Senior Public Finance Analyst
T: (713) 289-5896
dkatz@bokf.com

David Katz bio photo David Katz joined BOK Financial Securities' Texas Public Finance team in February 2015 and is primarily responsible for providing quantitative support to the firm’s municipal engagements. He provides refunding analysis, debt structuring, cash flow models, credit analysis and continuing disclosure documents for cities, counties, school district, and utility district entities.

Katz spent the previous four years as a verification agent for Grant Thornton working on various Municipal Bond transactions. Katz earned a Bachelor of Arts degree in Sociology from the University of Minnesota and a Bachelor of Science degree in Accounting from Rasmussen College.

Katz is a Financial Industry Regulatory Authority registered securities representative, currently holding Series 7, Series 63 and Series 79 licenses.
Karen Blogg

Financial Analyst
T: (713) 289-5899
kblogg@bokf.com

Karen Blogg bio photo

RANKINGS

Recent Transactions: Financial Advisor
Date Amount of Offering Issuer/Description
03/16/17 $32,985,000 Santa Fe Independent School District
Unlimited Tax School Building Bonds, Series 2017
03/09/17 $22,250,000 City of Pearland
Water & Sewer System Revenue Bonds, Series 2017 A&B
03/09/17 $26,740,000 Midlothian Independent School District
Unlimited Tax School Building Bonds, Series 2017-A
03/07/17 $5,605,000 City of Friendswood
General Obligation Bonds, Series 2017
03/02/17 $8,920,000 Calallen Independent School District
Unlimited Tax Refunding Bonds, Series 2017
02/23/17 $54,450,000 Azle Independent School District
Unlimited Tax School Building Bonds, Series 2017
02/23/17 $35,005,000 Georgetown Independent School District
Unlimited Tax School Building Bonds, Series 2017
02/14/17 $2,700,000 City of Deer Park
Certificates of Obligation, Series 2017
01/05/17 $5,605,000 Giddings Independent School District
Unlimited Tax Refunding Bonds, Series 2017
12/27/16 $29,840,000 City of Pearland
Permanent Improvement Refunding Bonds, Series 2016B
12/20/16 $121,500,000 Montgomery County
Unlimited Tax Road Bonds, Series 2016A and Limited Tax Refunding Bonds, Series 2016A
11/29/16 $206,675,000 Conroe Independent School District
Unlimited Tax School Building & Refunding Bonds, Series 2016A
11/29/16 $42,200,000 Pearland Independent School District
Unlimited Tax Refunding Bonds, Series 2016A
11/22/16 $49,235,000 Ector County Independent School District
Unlimited Tax Refunding Bonds, Series 2016
11/17/16 $99,645,000 Tomball Independent School District
Unlimited Tax School Building & Refunding Bonds, Series 2016
11/15/16 $6,885,000 City of Deer Park
Certificates of Obligation, Series 2016-A
11/15/16 $6,390,000 Stanley Lake Municipal Utility District
Unlimited Tax Bonds, Series 2016
11/15/16 $12,320,000 Development Authority of Pearland
Tax Increment Contract Revenue Bonds, Series 2016
11/03/16 $6,165,000 City of Seabrook
Certificates of Obligation, Series 2016A
10/25/16 $7,400,000 Lancaster Independent School District
Unlimited Tax School Building Bonds, Series 2016
10/25/16 $33,730,000 Santa Fe Independent School District
Unlimited Tax Refunding Bonds, Series 2016
10/20/16 $3,585,000 Odem-Edroy Independent School District
Unlimited Tax Refunding Bonds, Series 2016
09/29/16 $3,915,000 Gonzales Independent School District
Unlimited Tax Refunding Bonds, Series 2016
09/22/16 $11,275,000 City of Conroe
Certificates of Obligation, Series 2016
09/15/16 $9,765,000 City of Friendswood
General Obligation Refunding Bonds, Series 2016A
09/08/16 $2,540,000 City of Southside Place
Certificates of Obligation, Series 2016
Recent Transactions: Underwritings
Date Amount of Offering Issuer/Description Role
03/23/17 $9,240,000 Smithville Independent School District
Unlimited Tax School Building Bonds, Series 2017
Sole Manager
03/08/17 $93,000,000 Lamar Consolidated Independent School District
Unlimited Tax Schoolhouse Bonds, Series 2017
Co-Manager
03/08/17 $13,600,000 City of Portland
General Obligation Bonds, Series 2017
Co-Manager
02/23/17 $21,270,000 Paris Independent School District
Unlimited Tax Refunding Bonds, Series 2017
Co-Manager
02/21/17 $112,350,000 Prosper Independent School District
Unlimited Tax School Building Bonds, Series 2017
Co-Manager
02/15/17 $33,330,000 City of Galveston
Combination Tax & Revenue Certificates of Obligation, Series 2017
Co-Manager
02/09/17 $21,900,000 City of Heath
General Obligation Refunding Bonds, Series 2017 and Combination Tax & Surplus Revenue Certificates of Obligation, Series 2017
Co-Manager
02/08/17 $145,890,000 Klein Independent School District
Unlimited Tax Schoolhouse Bonds, Series 2017
Co-Manager
02/02/17 $168,350,000 Ysleta Independent School District
Unlimited Tax School Building Bonds, Series 2017
Co-Manager
02/02/17 $181,835,000 El Paso Independent School District
Unlimited Tax School Building Bonds, Series 2017
Co-Manager
01/11/17 $3,205,000 Brazos Independent School District
Unlimited Tax Refunding Bonds, Series 2017
Sole Manager
01/05/17 $65,980,000 Canyon Independent School District
Unlimited Tax School Building & Refunding Bonds, Series 2017
Co-Manager
12/28/16 $8,980,000 Rains Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Senior Manager
12/28/16 $75,790,000 Frisco Independent School District
Unlimited Tax School Building Bonds, Series 2016
Co-Manager
12/27/16 $9,050,000 Gregory-Portland Independent School District
Unlimited Tax School Building Bonds, Series 2016
Co-Manager
12/15/16 $163,825,000 Katy Independent School District
Limited Tax Refunding Bonds, Series 2016-C and Unlimited Tax Refunding Bonds, Series 2016-D
Co-Manager
12/01/16 $3,925,000 Quinlan Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Sole Manager
12/01/16 $26,670,000 Allen Independent School District
Unlimited Tax Refunding Bonds, Series 2016A
Co-Manager
11/29/16 $6,730,000 City of Grand Prairie
Sales Tax Revenue Bonds, Series 2016
Sole Manager
11/29/16 $70,830,000 City of Grand Prairie
General Obligation Refunding Bonds, Series 2016 and Combination Tax & Revenue Certificates of Obligation, Series 2016
Co-Manager
11/29/16 $32,760,000 Mansfield Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Co-Manager
11/22/16 $26,000,000 Midland Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Co-Manager
11/17/16 $129,175,000 Victoria Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Co-Manager
11/15/16 $45,305,000 Longview Independent School District
Unlimited Tax Refunding Bonds, Series 2016A
Co-Manager
11/17/16 $32,225,000 Splendora Independent School District
Unlimited Tax School Building & Refunding Bonds, Series 2016B
Co-Manager
11/17/16 $48,420,000 Carrollton-Farmers Branch Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Senior Manager
11/10/16 $4,130,000 Bell County Water Control & Improvement District No. 1
Water System Revenue Refunding Bonds, Series 2016
Sole Manager
11/03/16 $83,190,000 Port Arthur Independent School District
Unlimited Tax Refunding Bonds, Series 2016 D&E
Co-Manager
11/03/16 $150,250,000 Garland Independent School District
Unlimited Tax School Building Bonds, Series 2016
Co-Manager
10/31/16 $9,150,000 City of Victoria
Utility System Revenue Refunding Bonds, Series 2016
Sole Manager
10/26/16 $53,995,000 Newark Cultural Education Facilities Finance Corporation
Revenue Refunding Bonds (Kimbell Art Foundation Project) Series 2016
Co-Manager
10/18/16 $8,525,000 Cuero Independent School District
Unlimited Tax Refunding Bonds, Series 2016
Sole Manager
10/13/16 $7,785,000 Elgin Independent School District
Unlimited Tax Refunding Bonds, Series 2016A
Co-Manager
10/13/16 $600,065,000 Texas Water Development Board
State Water Implementation Revenue Fund for Texas Revenue Bonds, Series 2016 (Master Trust)
Co-Manager
09/20/16 $8,590,000 Stafford Municipal School District
Unlimited Tax Refunding Bonds, Series 2016 A&B
Sole Manager

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