Tax Notes Ser 2020

$140,000 of principal outstanding at the end of fiscal year 2025.

Terms

No changes since this site began recording on October 6, 2026.

Source: BRB data loads; as of 10/18/2026.

Firms and fees reported for this issue, by role
Role?	Firm?	Fees paid?
Financial advisor	US Capital Advisors LLC	$15,400
Bond counsel	Norton Rose Fulbright US LLP	$22,820

From the costs of issuance reported to BRB. A firm that was not paid a reported fee is not listed.

Fiscal years 2020 to 2025

Principal and interest outstanding at each fiscal year end

Principal, interest and debt service outstanding at each reporting date
Fiscal year?	Principal?	Interest?	Total debt service?
Fiscal year2025	Principal$140,000	Interest$882	Total debt service$140,882
Fiscal year2024	Principal$275,000	Interest$3,497	Total debt service$278,497
Fiscal year2023	Principal$410,000	Interest$7,812	Total debt service$417,812
Fiscal year2022	Principal$540,000	Interest$13,797	Total debt service$553,797
Fiscal year2021	Principal$1,040,000	Interest$23,751	Total debt service$1,063,751
Fiscal year2020	Principal$1,040,000	Interest$31,759	Total debt service$1,071,759

One-time costs to the issuer: $39,764, or $38.23 per $1,000 of par.

Each cost of issuance by role, who was paid and how much, with each role's subtotal of the issuer's one-time costs
Cost?	Paid to?	Type?	Amount?	Per $1,000?
CostBond counsel 1 fee	57.4% of the issuer's costs		Subtotal $22,820	Per $1,000$21.94
Similar issues: median $10.17 per $1,000
CostBond counsel	Paid toNorton Rose Fulbright US LLP	TypeOne time	Amount$22,820.00	Per $1,000$21.94
CostFinancial advisor 1 fee	38.7% of the issuer's costs		Subtotal $15,400	Per $1,000$14.81
Similar issues: median $18.45 per $1,000
CostFinancial advisor	Paid toUS Capital Advisors LLC	TypeOne time	Amount$15,400.00	Per $1,000$14.81
CostOther 2 fees	3.9% of the issuer's costs		Subtotal $1,544	Per $1,000$1.48
Similar issues: median $3.95 per $1,000
CostAttorney General review	Paid toNot reported	TypeOne time	Amount$1,040.00	Per $1,000$1.00
CostMAC	Paid toNot reported	TypeOne time	Amount$504.00	Per $1,000$0.48
CostTotal, 4 fees			Amount$39,764	Per $1,000
CostCosts to the issuer			Amount$39,764	Per $1,000$38.23

Bond counsel 1 fee$22,820$21.94 per $1,000Similar issues: median $10.17 per $1,000

Financial advisor 1 fee$15,400$14.81 per $1,000Similar issues: median $18.45 per $1,000

Other 2 fees$1,544$1.48 per $1,000Similar issues: median $3.95 per $1,000

Per $1,000 is computed here from each amount and the par. Subtotals and totals are rounded to the whole dollar.

How these costs are counted

Net spread counted once. Takedown, management fee, spread expenses and underwriting risk make up the underwriter's spread. Where an issue reports an amount for any of them, its row for the underwriter's net spread (the same spread as one figure) is shown as a cross-check and not added.
Paid by the underwriter: shown, not added to the issuer's costs. Rows BRB's table marks as paid by the underwriter (whether the underwriter paid the fee) are shown and count in the fees paid to that firm and role, but not in the issuer's one-time costs, per-$1,000 figures or medians.
The issuer's one-time costs add every other one-time row: not annual fees, not rows paid by the underwriter, not the cross-check. Per $1,000 of par divides them by the issue's par and multiplies by 1,000 (computed here).
Missing, zero and negative amounts. A row with no amount shows "Not reported" and is added to nothing. A reported $0 counts as $0, in sums and medians. A negative amount is added as reported; where a role's or firm's one-time costs on an issue come to less than $0, that issue is left out of the medians.
Similar issues. The median per $1,000 of par for that group across other issues by the same type of issuer, with the same pledge, sold the same way, a par half to twice this one's and a fiscal year within 3 years, shown when at least 5 report it.
Per $1,000 on each row is computed here from its amount and the par, not taken from BRB's rounded figure.

EMMA links are added as each issue is matched.

Source: Local Issuance Fee By Year (updated by the publisher 10/6/2026); Debt Outstanding By Issuance Local By Year (updated by the publisher 9/9/2026). Loaded here 10/18/2026.

Texas fiscal years run September 1 to August 31.

Issuer names are shown as published, without source footnote letters.

Figures are as reported to the agency and have not been independently verified.