HilltopSecurities is actively working with public sector clients to help address the unprecedented financial impact of the week-long freezing temperatures. We have helped municipal clients through catastrophic weather events and other challenges for 75 years and are standing by our clients, helping them find solutions during these extremely challenging times.
HilltopSecurities is working as a team with our clients’ staff, their attorneys, Attorney General’s office, state legislators, and other public officials to assist in navigating the personal and financial impacts of the winter storm. Our goal is to meet their immediate needs while we continue to develop long-term solutions to address the ongoing impacts of the emergency.
“Like so many in Texas, Oklahoma and other states, we have hundreds of employees who are personally affected by this winter storm and are concerned for the health and safety of everyone impacted,” said HilltopSecurities Head of Public Finance David Medanich. “We know that many of our governmental clients are experiencing increased costs of delivering services. In fact, we are aware of one who paid more for power costs in the past week than it did in all of 2019. We are actively working with them to find solutions to address these additional costs and challenges. And while there is certainly an urgency to find solutions today, we know the true impact and cost of this week will not be fully understood for some time. We are helping our clients evaluate all kinds of options including cash management strategies as well as short term borrowings like interfund loans, bank notes, commercial paper, and Tax and Revenue Anticipation Notes.”
If your municipality or public sector is need of financial advisory services, please contact us today for immediate assistance.
Recent Municipal Commentary and Media Appearances
February 22, 2021 | Higher than Typical Gas Costs for Oklahoma Municipal Power Authority
February 22, 2021 | The Financial Impact from The Big Freeze is Just Heating Up
February 18, 2021 | Texas Freeze