Texas Permanent School Fund Comprehensive Annual Financial Report: 2015 Page: 72
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AN OVERVIEW OF THE BOND GUARANTEE PROGRAM
In order to be eligible for the bond guarantee
program, school districts and charter districts must
be accredited by the State, have bond ratings below
AAA, and have their applications approved by the
Commissioner of Education. If a school district or.
charter district fails to make scheduled payments for
any bond issues guaranteed by the Fund, the Fund
will make the scheduled debt service payment for
the defaulting school district as described above.
The Fund will not accelerate the total bond issue.
Any State funds subsequently due to the district will
instead be paid to the Fund until all monies due the
Fund are repaid.
Figure 11 lists. the districts with the ten largest
aggregate amounts of bonds outstanding, which are
guaranteed under the program as of August 31,
2015.NUMBER OF ISSUES
Total
RGURE 11:
Bond Guarantee Program
Ten Largest Total Debt Outstanding
Guaranteed Under the Program
At August 31, 2015District Name
Dallas ISD
Houston ISD
Northside ISD - Bexar County
Cypress-Fairbanks ISD
Frisco ISD
North East ISD
Katy ISD
Leander ISD
Conroe ISD
Klein ISDSchool Districts
Balance
$ 2,326,650,000
1,995,855,691
1,927,900,000
1,852,465,767
1,559,775,843
1,332,730,000
1,271,035,662
961,817,962
932,295,000
872,010,000Charter Districts
Number of Issues as of September 1, 2014
Fiscal Year Activity
District Issues Guaranteed During Fiscal Year
District Issues Matured
District Issues Refunded
Number of Issues as of August 31, 2015BALANCE
Balance as of September 1, 2014
Fiscal Year Activity:
District Issues Guaranteed During Fiscal Year
District Issues Matured
District Issues Refunded
Adjustments2,879
561
(248)
(75)
3,117
$ 58,364,350,783
17,747,870,818
(2,335,486,333)
(9,630,190,220)
(191,096,001)2,869
543
(248)
(75)10
183,089 28
$58,061,805,783 $ 302,545,00017,286,017,818
(2,329,023,333)
(9,630,190,220)
(191,096,001)461,853,000
(6,463,000)Balance as of August 31, 2015
$ 63,955,449,047 $63,197,514,047 $ 757,935,000
72
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Permanent School Fund (Texas). Texas Permanent School Fund Comprehensive Annual Financial Report: 2015, report, Autumn 2015; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth838482/m1/78/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.