Texas school bond guarantee program’s available capacity shrinks
1 min readA top-rated Texas program that guarantees public school bonds may be nearing a shutdown after its projected available capacity fell to just $653 million at the end of October.
in December 2009 lifted the limit.
In the event of a default, which has never happened in the history of the program, bondholders are paid by the PSF and that money is then taken out of a district’s next state aid payment.