Texas Bond Review Board Strategic Plan: Fiscal Years 2013-2017 Page: 36
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Calculation Type: Cumulative
New Measure: No
Desired Performance: Higher than target.
Efficiency Measure 01: Average issuance costs per $1,000 debt issued by local governments.
Short Definition: For local government bond issuance, normal issuance costs include bond
counsel, financial advisor, printing, underwriter's spread and miscellaneous costs. Final closing costs
will be used for the evaluation.
Purpose/Importance: The agency is charged with the task of collecting, analyzing, and reporting
of information on the debt of local political subdivisions in Texas (Texas Government Code,
Chapter 1231.062). This measure provides a point of comparison.
Source/Collection of Data: The "Issue Login" database is maintained specifically for logging in
each local government transaction. When analysis of a transaction is complete, the Cost Analysis
field is used to indicate that the issue will be used in the cost analysis report. A query is made to this
field for all completed issues. The report is printed and the following calculation is made.
Method of Calculation: Total costs of issuance (financial advisor, bond counsel, rating agencies,
underwriting spread, etc.) divided by (total par amount of bonds/$1,000).
Data Limitations: This measure is dependent upon the number of financings submitted with
complete cost of issuance information.
Calculation Type: Cumulative
New Measure: No
Desired Performance: Lower than target.
Explanatory/Input Measure 01: Number of local governments issuing debt.
Short Definition: At the end of each fiscal year, a count will be made of the number of
governments in each category (city, county, ISD, etc.) that have issued debt during the fiscal year.
Purpose/Importance: This measure evaluates the number of governments that must issue debt to
finance their current needs.
Source/Collection of Data: The "Issue Login" database is designed specifically for logging in each
local government transaction from data obtained from the Attorney General.36
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Texas Bond Review Board. Texas Bond Review Board Strategic Plan: Fiscal Years 2013-2017, book, July 2, 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth531984/m1/39/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.