Most people see The Launch Bond^® as a “new category” of Texas MUD forward funding.

What they don’t see is the first deal where we had to prove it worked in the real world.

For me, that proving ground was working with Randy Rollo on the Lariat project in Williamson County, Texas.

Like many large-scale Texas projects, Lariat faced the classic challenge: significant upfront infrastructure costs, long reimbursement timelines through traditional MUD bonds, and equity tied up far longer than made sense for a high-velocity development.

Instead of accepting that as “just the way it’s done,” Randy and I sat down and asked a different question: what would it look like if we could bring a meaningful portion of those future MUD reimbursements forward, on a non-recourse, tax-exempt basis, without developer guarantees, while still protecting the long-term interests of the district and its taxpayers?

Out of those conversations came the structure that ultimately became The Launch Bond^®:

• Collateralized by the assignment of future MUD bond proceeds
• Designed to accelerate a portion of those proceeds into the current capital stack
• Built to integrate smoothly with the district framework and traditional public finance process

Lariat was the project where we pressure-tested this concept against real dirt, real timelines, and real risk. It’s where we moved from “interesting idea on paper” to a repeatable structure that could scale to other master-planned communities.