FOR IMMEDIATE RELEASE -- May 15, 2026

McKinney, Texas — May 15 2026,  A  newly filed legal response by Texas Attorney General Ken Paxton raises  serious legal and financial concerns regarding the City of McKinney’s  airport-related TIFIA bond refinancing and the  process used to seek judicial approval of the debt.

In the filing, the Attorney General  argues that the City of McKinney and the McKinney Community Development  Corporation (MCDC) may have improperly used the Expedited Declaratory  Judgment Act (EDJA) to validate the airport-related  bond refinancing tied to the controversial airport expansion project.

The filing also raises major concerns  about the long-term financial impact this refinancing could place on  McKinney taxpayers for decades to come.

While City officials publicly  promoted the refinancing as producing “millions in savings,” the  Attorney General’s filing points out that the existing airport-related  bonds mature in 2032, while the proposed refinancing would  extend the debt all the way to 2056 — adding an additional 24 years of  taxpayer-backed obligations.

Even more concerning, financial  documents attached to the filing reflect that total repayment  obligations could increase from approximately $36.7 million to more than  $45.6 million over time — more than $9 million in additional  long-term debt obligations.

From the perspective of the North  Texas Conservation Association (“NTCA”), the Attorney General’s legal  response reinforces longstanding concerns regarding transparency,  legality, fiscal accountability, and the accelerated  process being used to advance the airport expansion project.

• The  Attorney General argues the court may lack jurisdiction under the EDJA  because MCDC is legally structured as a nonprofit corporation rather  than a qualifying governmental “issuer” under Texas  law. 
• The  filing questions whether the City of McKinney and MCDC improperly  attempted to fast-track approval of the airport bonds through Travis  County rather than allowing broader public scrutiny and  legal review within the community most directly impacted. 
• The  Attorney General challenges claims that the refinancing would save  taxpayers “millions of dollars,” noting that the refinancing extends  debt obligations from 2032 to 2056. 
• Financial  schedules attached to the filing show that while officials promoted  approximately $15 million in projected “savings,” the refinancing  structure could ultimately result in more than $9  million in additional repayment obligations over time. 
• The  Attorney General also argues the TIFIA loan agreement may violate Texas  law by exposing the City of McKinney to financial obligations and  liabilities beyond what state law permits. 
• Specific  concerns identified in the filing include indemnification clauses,  potential waiver of governmental immunity protections, undefined  collateral obligations, and provisions allowing federal  enforcement actions against the City. 
• The  filing ultimately asks the court to dismiss the lawsuit for lack of  subject matter jurisdiction and deny the relief requested by the City  and MCDC. 
• 
  

NTCA believes taxpayers deserve  full transparency regarding the true financial risks, legal  implications, and long-term taxpayer obligations associated with the  airport expansion project.

“The Attorney General’s filing  validates many of the concerns residents have been raising for months,”  NTCA stated. “McKinney taxpayers deserve transparency, accountability,  and a full public discussion before being committed  to decades of additional financial obligations tied to this airport  expansion.”

Read the Attorney General’s filing here:

Attorney General Filing