TEXAS BOND REVIEW BOARD
TEXAS BOND REVIEW BOARD. The Texas Bond Review Board was established in 1987. Its main function is to review and approve all bonds issued and lease-purchases or installment sales over $250,000 by universities and state agencies. A five-member policy-making body is in charge and consists of the governor, lieutenant governor, state treasurer, speaker of the house, and state comptroller. The governor serves as chairman. The board is responsible for conducting policy regarding debt and bond issues for the state. It furnishes public information about bonded indebtedness and provides full disclosure on the costs and methods of debt issuance to citizens. The board develops consistent guidelines to ensure the security of public money and the integrity of the projects to which bond proceeds are directed. It also provides definitive guidelines for bond issuers and coordinates the timing of bond sales. In the fiscal year of 1989 a total of $1.46 billion in bonds were issued by state agencies and universities, and Texas bond debt totaled $6.7 billion at the end of that fiscal year. Some of the bond issues approved by Texas voters in 1989 included $500 million for financing water-related projects under the Water Development Board, $75 million for student college loans under the Texas Higher Education Coordinating Board, and $30 million for loans to agricultural and small rural businesses under the Agricultural Authority.
Image Use Disclaimer
All copyrighted materials included within the Handbook of Texas Online are in accordance with Title 17 U.S.C. Section 107 related to Copyright and “Fair Use” for Non-Profit educational institutions, which permits the Texas State Historical Association (TSHA), to utilize copyrighted materials to further scholarship, education, and inform the public. The TSHA makes every effort to conform to the principles of fair use and to comply with copyright law.
For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml
If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.
The following, adapted from the Chicago Manual of Style, 15th edition, is the preferred citation for this article.Handbook of Texas Online, Laurie E. Jasinski, "Texas Bond Review Board," accessed September 25, 2016, http://www.tshaonline.org/handbook/online/articles/mdtln.
Uploaded on June 15, 2010. Published by the Texas State Historical Association.