Bond capacity increases following State Board of Ed action

Apr. 5 — AUSTIN — The State Board of Education has taken steps to address the nearly exhausted Bond Guarantee Program by voting to lower the amount set aside for reserve from 5% to 0.25%. This action freed up nearly $6 billion in capacity, allowing the Texas Education Agency to approve all February applications from school districts and charters seeking to take advantage of the program’s AAA bond rating. After considering the maturity of guaranteed bonds and the new guarantees approved in February, the program’s remaining capacity stands at $5.37 billion. “I am pleased that the Bond Guarantee Program can…