Thomas K. Spurgeon

Tom Spurgeon is a partner in the San Antonio office. He has extensive experience as bond counsel for traditional municipal financings for various political subdivisions in Texas as well as private activity bond transactions. He has also served as counsel to the Underwriters on many types of bond transactions. The entirety of Tom’s career practicing law (beginning in 1981) has been spent with McCall.

Highlights & Notable Transactions

Representative bond counsel clients include various cities, counties, school districts, junior college districts, river authorities, water districts, and conduit issuers of private activity bonds
Developed a “lease-leaseback” financing structure for the City of San Antonio to issue lease revenue bonds payable from all available revenues of the City in order to refinance all outstanding hotel occupancy tax bonds issued for, and finance a major addition to, the City’s convention center, and without the need for a reserve fund or traditional coverage ratios, all of which resulted in substantial savings to the City and provided greater cash-flow flexibility
Served as bond counsel for the issuance by the City of San Antonio of tax-exempt “empowerment zone bonds” and taxable bonds to provide a portion of the funds to construct a privately-owned convention center hotel (the Grand Hyatt Hotel)
Created a financing structure utilizing multiple sources of revenues from various entities to secure contract revenue bonds issued to provide a portion of the funds to construct a public-private, multi-purpose entertainment center for the City of Edinburg
Served as bond counsel for the issuance by the Brooks Development Authority of revenue bonds secured by a pledge of revenues derived from lease agreements with numerous public and private tenants (most of whom were unrated) of various sizes and terms, as well as a mortgage of certain of the Authority’s developable land and buildings, all of which implemented a unique credit structure to provide flexibility for Brooks to conduct its redevelopment mission of the former Brooks Air Force Base while also providing significant protection to the bondholders