Texas General Land Office and Texas Veterans' Land Board Annual Financial Report: 2014 Page: 51
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UNAUDITED
delivered to it. The liquidity agreement
terminates on July 31, 2015. The liquidity
provider receives an annual fee of 0.525 percent.
As of August 31, 2014, there were $0 purchased
bonds held by the liquidity provider under the
terms of the liquidity agreement.
$67,095,000 State of Texas Veterans Bonds,
Fund II Series 2010C
The bonds were issued pursuant to a resolution
adopted by the board on July 22, 2010, in the
original aggregate principal amount of
$74,995,000.00. The proceeds of the bonds were
used to augment the Veterans' Housing Assistance
Fund II. The bonds are currently in the weekly
mode.
While in the weekly mode, the bonds are subject
to purchase on any business day upon the demand
of the holder at a price equal to the principal
amount thereof plus accrued interest, with at least
seven calendar days' notice to the board's tender
agent, U.S. Bank National Association. The
board's remarketing agent, Morgan Stanley & Co.
Incorporated, is authorized to use its best ongoing
efforts to sell any purchased bonds at a price equal
to the principal amount of such purchased bonds
plus accrued interest thereon, if any, to the date of
sale.
Under a standby bond purchase agreement
between the board and Bank of Tokyo-Mitsubishi
UFJ, the tender agent is entitled to request an
amount from the liquidity provider sufficient to
pay the purchase price of the bond delivered to it.
The liquidity agreement terminates on July 31,
2015. The liquidity provider receives an annual
fee of 0.525 percent. As of August 31, 2014,
there were $0 purchased bonds held by the
liquidity provider under the terms of the liquidity
agreement.
$67,290,000 State of Texas Veterans Bonds,
Series 2011A
The bonds were issued pursuant to a resolution
adopted by the board on January 27, 2011, in the
original aggregate principal amount of
$74,995,000.00. The proceeds of the bonds were
used to augment the Veterans' Housing Assistance
Fund II. The bonds are currently in the weekly
mode.
While in the weekly mode, the bonds are subject
to purchase on any business day upon the demandof the holder at a price equal to the principal
amount thereof plus accrued interest, with at least
seven calendar days' notice to the board's tender
agent, Amegy Bank National Association. The
board's remarketing agent, J.P. Morgan Securities
LLC, is authorized to use its best ongoing efforts
to sell any purchased bonds at a price equal to the
principal amount of such purchased bonds plus
accrued interest thereon, if any, to the date of
sale.
Under a standby bond purchase agreement
between the board and J.P. Morgan Chase Bank,
National Association, the tender agent is entitled
to request an amount from the liquidity provider
sufficient to pay the purchase price of the bond
delivered to it. The liquidity agreement
terminates on March 7, 2017. The liquidity
provider receives an annual fee of 0.38 percent.
As of August 31, 2014, there were $0 purchased
bonds held by the liquidity provider under the
terms of the liquidity agreement.
$68,755,000 State of Texas Veterans Bonds,
Series 2011B
The bonds were issued pursuant to a resolution
adopted by the board on July 28, 2011, in the
original aggregate principal amount of
$74,995,000.00. The proceeds of the bonds
were used to augment the Veterans' Housing
Assistance Fund II. The bonds are currently in
the weekly mode.
While in the weekly mode, the bonds are subject
to purchase on any business day upon the
demand of the holder at a price equal to the
principal amount thereof plus accrued interest,
with at least seven calendar days' notice to the
board's tender agent, Amegy Bank National
Association. The board's remarketing agent, J.P.
Morgan Securities LLC, is authorized to use its
best ongoing efforts to sell any purchased bonds
at a price equal to the principal amount of such
purchased bonds plus accrued interest thereon, if
any, to the date of sale.
Under a standby bond purchase agreement
between the board and Wells Fargo Bank,
National Association, the tender agent is entitled
to request an amount from the liquidity provider
sufficient to pay the purchase price of the bond
delivered to it. The liquidity agreement
terminates on August 1, 2015. The liquidity
provider receives an annual fee of 0.49 percent.
As of August 31, 2014, there were $0 purchased51
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Texas. General Land Office. Texas General Land Office and Texas Veterans' Land Board Annual Financial Report: 2014, report, Autumn 2014; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth639012/m1/55/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.