Notice of Intent to Issue State Debt or Enter Into a Lease Purchase Agreement
The Texas Bond Review Board is responsible for approval of certain state debt issues and lease purchases with an initial principal amount greater than $250,000 or a financing term greater than five years.
Notice of Intent to Issue (excerpt from the BRB Rules, Sec. 181.2)
Submission of an application for board approval to issue state debt must be preceded by a written notice of intent to issue no later than 12 business days prior to the scheduled planning session to discuss the application.
The notice must contain but is not limited to:
- a brief description of the proposed issuance, including, but not limited to, the purpose, the tentative amount, and a brief outline of the proposed terms;
- the proposed timing of the issuance with a tentative sale date and closing date;
- a request to have the debt issuance or lease-purchase scheduled for consideration by the board during a specified monthly meeting; and
- an agreement to submit the required application see Application Forms no later than 10 business days prior to the scheduled planning session to discuss the application.