STARBASE, Texas (ValleyCentral) — The city of Starbase plans to borrow another $1 million from SpaceX.

During a meeting on Wednesday night, the City Commission agreed to borrow $1 million from SpaceX at 0% interest. The city plans to pay SpaceX back in 2026, when Starbase collects property taxes.

“If you approve the ordinance, then our bond counsel — working with the counsel at SpaceX — will finalize all the documents,” Andre Ayala, a managing director at Hilltop Securities, which advised Starbase on the deal, said during the City Commission meeting on Wednesday night. “And close the transaction, hopefully, on Monday, Sept. 29.”

Every member of the City Commission is a current or former SpaceX employee. They voted 3-0 to approve the deal.

Voters created Starbase in May.

The fledgling

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