San Marcos cop indicted on drug charges
San Marcos police officer David Keith Amerson, 25, was arrested Monday on two felony indictments of prescription fraud, according to Hays County Jail records.
Amerson was accused in four felony counts of prescription fraud after authorities say he acquired Hydrocodone and OxyContin from pharmacies in Austin, San Marcos and San Antonio.
On Oct. 14, Amerson was arrested on the indictments and released on two $500 bonds. A Hays County Grand Jury indicted him on the prescription fraud counts on Oct. 2, and a warrant for his arrest was issued on Oct. 9, according to court records.
San Marcos Police Chief Howard Williams said in a July news conference that Amerson was placed on administrative leave on May 23 pending both an internal and criminal investigations.
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Last month, Williams told the University Star that Amerson continued on administrative leave pending a disciplinary hearing. Williams could not be reached for comment by press time.
Amerson was first arrested on July 17 on two charges for obtaining controlled substance by fraud. The two charges are second and third degree felonies.
Kyle may benefit from state’s upgraded bond rating
The national credit rating agency Standard & Poor’s raised its rating for Texas general obligation bonds to its highest grade possible, Texas Comptroller Susan Combs announced last week.
The rating agency elevated the state’s grade by one notch from AA+ to AAA. Fitch Ratings and Moody’s Investors Service, the two other rating agencies, already maintained the highest ratings for Texas bonds, according to the comptroller’s office.
“These bond ratings reflect Wall street’s confidence in the Texas economy, the state’s revenue growth and disciplined cash management and budgeting,” Combs said.
Kyle could stand to benefit from the state’s rating upgrade as the city awaits a response from the Texas Water Development Board (TWDB) for a $750,000 loan to address the rehabilitation of several water storage tanks and to develop a water and wastewater model.
The state agency could be more inclined to lend funds at a lowering borrowing cost to them, and if TWDB approves the city’s loan request – acceptance or denial is expected in 60 to 90 days – Kyle would have up to two years to issue debt, if council members accept the state loan. Kyle would have to issue 20-year Certificates of Obligation in the amount of the loan, plus issuance costs, to obtain TWDB funding. The state agency would then purchase Kyle’s CO bonds with the debt the water board approved to cover the loan and strong bond ratings can help lower borrowing costs.
Kyle Finance Director Perwez Moheet said the bonds would still cary a slightly higher interest rate than what the state would be charged to make up for bond associated administrative costs.
“The basic assumption behind this financing mechanism is that cities and counties could obtain an overall lower interest cost by issuing the bond to TWDB as compared to underwriters and investors in the tax-exempt bond market,” Moheet said. “However, it is my opinion that what we may save on the front-end eventually balances out with the added administrative/staff costs incurred by cities and counties for managing a TWDB loan, because these loans normally come with added procedural and reporting requirements.”
The city of Buda is not pursuing any loans through state agencies. Buda’s Finance Director said the city is using a grant from the Water Development Board to retrofit the Hillside Terrace neighborhood for water/wastewater lines to replace aging and failing septic systems.
Texas General obligation bonds are backed by the full faith and credit of the state. Various state agencies issue bonds for projects such as road construction, water infrastructure, college student loans and veterans’ home loans.
The highest general obligation bond ratings only add to the top ratings Texas received for its short-term loans in August.
