Texas Public Finance Authority

In 1984 ,The Texas Public Finance Authority, created by an act of the Texas Legislature has been established to generate funds for building or attainment of facilities for State agencies. Right now the agency has an FTE cap of 15 FTEs, and the projects are approximately costing $800,000 annually.
A board of directors formed of seven members governs The Texas Public Finance Authority. These board of directors are appointed by the Governor on the valuable advice and permission of the Senate. An Executive Director is charged with managing the affairs of the Authority, and The Authority itself selects and employs the Executive Director.

The Executive Director remains under the direction of the Authority Board and is bound to follow the directions of the board. The State Legislature holds the right to assess and grant permission for the specific project for which the bonds are to be issued and the calculated cost of the project or the maximum amount of bonded indebtedness that may be obtained by the issuance of bonds.
Only after this, the Authority may issue bonds for the accomplishment or establishment of a building for a State agency, except on institution of higher education.
Not only the bonds for the building projects, but sometimes The Authority issues bonds related to different fields.

Before doing such things, the Authority must acquire additional permission from the Legislature which should declare the Authority as the exclusive issuer of that particular bond. The Authority, following the same fashion, issued bonds on behalf of the Texas Parks and Wildlife Department under the 1999 amendment to the Texas Parks and Wildlife Code, to renovate the state parks and park facilities. Again in 2003, The Authority has issued revenue bonds for the Texas Workforce Commission to generate funds for The Unemployment Compensation Fund. The Texas Labor Code enacted in 2003, has authorized The Texas public Finance Authority to issue the above said bond. Further, to finance facilities for charter schools, a non-profit corporation to issue bonds, has been designed and established by The Authority, and this has been done under Texas Education Code, Ch. 53.

The Texas Public Finance Authority has Issued several general obligation bonds for the following state agencies:
The Department of Agriculture,
The School for the Blind and Visually Impaired,
The Building and Procurement Commission,
The Department of Criminal Justice,
Health and Human Services Commission,
The State Department of Health Services,
The Department of Aging and Disability Services,
The Historical Commission,
The Juvenile Probation Commission,
The Military Facilities Commission,
The Texas National Research Laboratory Commission
The Texas Parks and Wildlife Department,
The State Preservation Board,
The Texas State Technical College System,
The Texas Department of Transportation,
The Texas Workers Compensation Fund,
The Texas Workforce Commission,
The Texas Youth Commission,
Midwestern State University,
Stephen F. Austin University,
Texas Southern University
The Authority currently deals in three commercial paper programs;

The Master Lease Purchase Program,
General Obligation commercial paper program (Series 2002A)
The General Obligation Commercial Paper program (Series 2002B)
A fourth commercial paper program, to arrange funds for loans to defense persons has been designed by the Authority Chapter 436 of the Government Code.

A fourth commercial paper program, to arrange funds for loans to defense persons has been designed by the Authority Chapter 436 of the Government Code.

Official address:

Texas Public Finance Authority
Attention: Kimberly K. Edwards, Executive Director
P.O. Box 12906
Austin, TX 78711-2047
(512) 463-5544
(512) 463-5700

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Last Updated on : 1st August 2013

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