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In this episode of Setting the Standard, host Chris Coryell interviews Stewart Shirey (Co-founder) and Ed King (Senior Vice President) from Government Capital in Southlake, Texas. With over 33 years in the industry and $6.5 billion in financing provided across 11,000 transactions, Government Capital specializes in helping public entities navigate complex financing options.
Stewart and Ed break down the "hidden costs" that public entities face when delaying critical infrastructure projects - particularly the "silent killers" of inflation and lost ROI that often exceed financing interest rates. They explain how tax-exempt borrowing rates (4-5%) combined with current inflation rates (5-7%) actually make financing more economical than paying cash. The discussion covers the two-lane approach of securities vs. non-securities financing, state-by-state regulatory differences, and why K-12 schools face unique funding challenges. With 80 new first-time superintendents in Texas alone and ongoing challenges around school funding, this episode provides essential insights for public decision-makers considering infrastructure investments, making a compelling mathematical case that strategic financing is often the most responsible fiscal approach.
Host: Chris Coryell, Coryell Roofing
Guests: Stewart Shirey, Co-founder, Government Capital; Ed King, Senior Vice President, Government Capital
