Some Texas Schools Find It Harder to Get PSF Guarantees

Albanese, Elizabeth
April 2003
Bond Buyer;4/3/2003, Vol. 344 Issue 31607, p36
Trade Publication
With more school districts in the state facing financial hardships, the Texas Education Agency is rejecting an increasing number of requests for guarantees from the Permanent School Fund for local school district bond issues, in some cases prompting those districts to turn to private bond insurance. A number of Texas districts, including the Austin Independent School District and the West Orange-Cove Consolidated School District, have declared financial emergencies. “ I think that shows a strong commitment from the Legislature— there will be more Texas school debt coming, and they want to insure more deals,” said Dan Black, executive director of the Texas Municipal Advisory Council.


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