Participant
PFM Group
Paid on 378 local government issues in BRB's local issuance fee table, $27,241,394 in fees reported.
By role
| Role? | Issues? | Par of those issues? | Fees paid? | Median cost per $1,000? | Negotiated? | Competitive? | Private placement? | First FY? | Last FY? | Paid by the underwriter? |
|---|---|---|---|---|---|---|---|---|---|---|
| RolePlacement agent | Issues1 | Par of those issues$38,325,000 | Fees paid$35,000 | Median cost per $1,000$0.91 | Negotiated1 | Competitive0 | Private placement0 | First FY2022 | Last FY2022 | Paid by the underwriter$0 |
| RoleFinancial advisor | Issues376 | Par of those issues$31,328,943,375 | Fees paid$26,389,940 | Median cost per $1,000$1.21 | Negotiated220 | Competitive80 | Private placement76 | First FY2015 | Last FY2024 | Paid by the underwriter$0 |
| RolePrinting, disclosure and data services | Issues5 | Par of those issues$573,971,000 | Fees paid$19,500 | Median cost per $1,000$1.73 | Negotiated2 | Competitive0 | Private placement3 | First FY2017 | Last FY2023 | Paid by the underwriter$0 |
Issues
378 issues, newest first.
Skip the Issues PFM Group worked on table| Issue? | Issuer? | Closed? | FY? | Role? | Sale type? | Par? | Fees to this firm? | Per $1,000 of par? |
|---|---|---|---|---|---|---|---|---|
| Wtr & Wastewater Sys Rev Bonds Ser 2019 | Austin | 11/13/2019 | 2020 | Financial advisor | Private placement | $6,200,000 | $25,000 | $4.03 |
| MTN Ser 2019 | Eagle Pass ISD | 11/7/2019 | 2020 | Financial advisor | Private placement | $6,887,000 | $47,331 | $6.87 |
| WW & SS Rev Ref Bonds Ser 2019 | Agua Special UD | 11/7/2019 | 2020 | Financial advisor | Private placement | $2,970,000 | $35,274 | $11.88 |
| WW & SS Rev Bonds Ser 2019 | Eagle Pass | 10/24/2019 | 2020 | Financial advisor | Private placement | $15,075,000 | $0 | $0.00 |
| MTN Ser 2019 | La Pryor ISD | 10/24/2019 | 2020 | Financial advisor | Private placement | $1,000,000 | $30,500 | $30.50 |
| Wtr Sys Jr Lien Rev Ref Bonds Ser 2019C (No Reserve Fund) | San Antonio | 10/23/2019 | 2020 | Financial advisor; Other costs | Negotiated | $82,565,000 | $76,654 | $0.93 |
| Pub Prop Finance Contr Oblig Ser 2019 | Austin | 10/2/2019 | 2020 | Financial advisor | Negotiated | $25,780,000 | $21,997 | $0.85 |
| Pub Impr Bonds Txbl Ser 2019 | Austin | 10/2/2019 | 2020 | Financial advisor | Negotiated | $40,535,000 | $61,059 | $1.51 |
| Pub Impr & Ref Bonds Ser 2019 | Austin | 10/2/2019 | 2020 | Other costs; Financial advisor | Negotiated | $146,090,000 | $127,922 | $0.88 |
| Wastewater Sys Rev Ref Bonds Ser 2019 | West Lake Hills | 10/2/2019 | 2020 | Financial advisor | Private placement | $14,060,000 | $34,700 | $2.47 |
| CO Ser 2019 | Austin | 10/2/2019 | 2020 | Financial advisor | Negotiated | $5,055,000 | $4,313 | $0.85 |
| CO Txbl Ser 2019 | Austin | 10/2/2019 | 2020 | Financial advisor | Negotiated | $14,935,000 | $22,497 | $1.51 |
| Sales & Use Tax Ref Bonds Txbl Ser 2019B | Metropolitan Transit Auth of Harris Co | 9/26/2019 | 2020 | Financial advisor | Negotiated | $23,880,000 | $35,230 | $1.48 |
| Sales & Use Tax Ref Bonds Ser 2019A | Metropolitan Transit Auth of Harris Co | 9/26/2019 | 2020 | Financial advisor | Negotiated | $64,120,000 | $48,252 | $0.75 |
| Elec & Gas Sys Rev Ref Bonds New Ser 2019 | San Antonio | 9/25/2019 | 2020 | Financial advisor | Negotiated | $114,685,000 | $81,432 | $0.71 |
| Wtr Sys Jr Lien Rev Bonds Ser 2019B (Drinking Wtr State Revolving Fund) | San Antonio | 9/25/2019 | 2020 | Financial advisor | Private placement | $30,765,000 | $21,921 | $0.71 |
| Ltd Tax Ref Bonds Ser 2019 | Donna | 9/19/2019 | 2020 | Financial advisor | Private placement | $4,035,000 | $51,219 | $12.69 |
| Elec Util Sys Rev Ref Bonds Ser 2019B | Austin | 8/21/2019 | 2019 | Financial advisor | Negotiated | $169,850,000 | $152,425 | $0.90 |
| Elec Util Sys Rev Ref & Impr Bonds Txbl Ser 2019C | Austin | 8/21/2019 | 2019 | Financial advisor | Negotiated | $104,775,000 | $119,888 | $1.14 |
| Unl Tax School Bldg Bonds Ser 2019B (VR) | Wylie ISD | 8/20/2019 | 2019 | Financial advisor | Negotiated | $27,540,000 | $60,260 | $2.19 |
| Unl Tax School Bldg Bonds Ser 2019A | Wylie ISD | 8/20/2019 | 2019 | Financial advisor | Negotiated | $158,800,000 | $141,612 | $0.89 |
| Tax Notes Ser 2019 | Palmview | 8/15/2019 | 2019 | Financial advisor | Private placement | $1,200,000 | $87,800 | $73.17 |
| GO Ref Bonds Ser 2019 | Palmview | 8/15/2019 | 2019 | Financial advisor | Private placement | $1,570,000 | $54,430 | $34.67 |
| Airport Sys Rev Bonds Ser 2019B | Austin | 8/13/2019 | 2019 | Financial advisor | Negotiated | $248,170,000 | $194,310 | $0.78 |
| Airport Sys Rev Bonds Ser 2019A | Austin | 8/13/2019 | 2019 | Financial advisor | Negotiated | $16,975,000 | $61,929 | $3.65 |
| Ltd Tax Facil Bonds Ser 2019 | Fort Bend County | 7/30/2019 | 2019 | Financial advisor | Negotiated | $34,655,000 | $80,310 | $2.32 |
| Perm Impr Bonds Ser 2019 (Ltd Tax) | Travis County | 6/27/2019 | 2019 | Financial advisor | Competitive | $25,840,000 | $23,409 | $0.91 |
| Unl Tax Road Bonds Ser 2019 | Travis County | 6/27/2019 | 2019 | Financial advisor | Competitive | $14,405,000 | $13,040 | $0.91 |
| CO Ser 2019B (Ltd Pledge) | Travis County | 6/27/2019 | 2019 | Financial advisor | Competitive | $111,640,000 | $101,531 | $0.91 |
| Time Warrants Ser 2019 | Somerset ISD | 6/13/2019 | 2019 | Financial advisor | Private placement | $1,000,000 | $21,000 | $21.00 |
| Elec Util Sys Rev Bonds Txbl Ser 2019A | Austin | 6/13/2019 | 2019 | Printing, disclosure and data services; Financial advisor | Negotiated | $464,540,000 | $298,000 | $0.64 |
| MTN Ser 2019 | Somerset ISD | 6/13/2019 | 2019 | Financial advisor | Private placement | $1,080,000 | $21,440 | $19.85 |
| WW & SS Rev Bonds Ser 2019 | Agua Special UD | 6/6/2019 | 2019 | Financial advisor | Private placement | $5,580,000 | $29,616 | $5.31 |
| Unl Tax School Bldg Bonds Ser 2019C (VR) | Leander ISD | 5/30/2019 | 2019 | Financial advisor | Negotiated | $85,360,000 | $105,234 | $1.23 |
| Unl Tax Ref Bonds Txbl Ser 2019B | Leander ISD | 5/21/2019 | 2019 | Other costs; Financial advisor | Negotiated | $4,945,000 | $65,790 | $13.30 |
| Unl Tax Ref Bonds Ser 2019A | Leander ISD | 5/21/2019 | 2019 | Other costs; Financial advisor | Negotiated | $9,165,000 | $45,731 | $4.99 |
| GO Ref Bonds Ser 2019B | Dallas | 5/15/2019 | 2019 | Financial advisor | Competitive | $153,950,000 | $80,444 | $0.52 |
| GO Ref & Impr Bonds Ser 2019A | Dallas | 5/15/2019 | 2019 | Financial advisor | Competitive | $235,595,000 | $114,735 | $0.49 |
| Airport Sys Rev Ref Bonds Ser 2019 | Austin | 5/8/2019 | 2019 | Financial advisor | Negotiated | $151,720,000 | $148,360 | $0.98 |
| Spec Assessment Rev Bonds Ser 2019 (Whisper Valley PID Impr Area 1) | Austin | 4/16/2019 | 2019 | Financial advisor | Negotiated | $4,500,000 | $95,000 | $21.11 |
| Sr Lien Sales Tax Rev Ref Bonds Ser 2019 | Dallas Area Rapid Transit | 4/9/2019 | 2019 | Financial advisor | Negotiated | $301,095,000 | $50,000 | $0.17 |
| CO Ser 2019A (Ltd Tax) | Travis County | 4/8/2019 | 2019 | Financial advisor | Negotiated | $273,025,000 | $193,428 | $0.71 |
| Unl Tax School Bldg Bonds Ser 2019 | Mathis ISD | 4/4/2019 | 2019 | Financial advisor | Negotiated | $12,200,000 | $51,563 | $4.23 |
| Combined Fee Rev Ref Bonds Ser 2019 | Houston Community College System | 2/26/2019 | 2019 | Financial advisor | Negotiated | $26,870,000 | $29,010 | $1.08 |
| Ltd Tax GO Bldg Bonds Ser 2019A | San Jacinto CCD | 2/26/2019 | 2019 | Financial advisor | Negotiated | $131,205,000 | $124,022 | $0.95 |
| Ltd Tax GO Ref Bonds Ser 2019B | San Jacinto CCD | 2/26/2019 | 2019 | Financial advisor; Other costs | Negotiated | $11,520,000 | $47,873 | $4.16 |
| Tax & Ltd Pledge WW & SS Rev CO Txbl Ser 2019 | McKinney | 2/5/2019 | 2019 | Financial advisor | Private placement | $7,560,000 | $20,000 | $2.65 |
| Wtr Sys VR Jr Lien Rev Bonds Ser 2019A (No Reserve Fund) | San Antonio | 1/29/2019 | 2019 | Financial advisor | Negotiated | $166,480,000 | $94,450 | $0.57 |
| Spec Assessment Rev Bonds Ser 2018 (Estancia Hill Country PID Impr Area 1) | Austin | 12/28/2018 | 2019 | Financial advisor | Negotiated | $4,265,000 | $87,300 | $20.47 |
| Spec Assessment Rev Bonds Ser 2018 (Estancia Hill Country PID Impr Area 2) | Austin | 12/28/2018 | 2019 | Financial advisor | Negotiated | $8,305,000 | $168,100 | $20.24 |
| Total, all 378 | $27,241,394 |
Wtr & Wastewater Sys Rev Bonds Ser 2019
- Closed
- 11/13/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $6,200,000
- Fees to this firm
- $25,000
- Per $1,000 of par
- $4.03
- Closed
- 11/7/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $6,887,000
- Fees to this firm
- $47,331
- Per $1,000 of par
- $6.87
WW & SS Rev Ref Bonds Ser 2019
- Closed
- 11/7/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $2,970,000
- Fees to this firm
- $35,274
- Per $1,000 of par
- $11.88
- Closed
- 10/24/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $1,000,000
- Fees to this firm
- $30,500
- Per $1,000 of par
- $30.50
Wtr Sys Jr Lien Rev Ref Bonds Ser 2019C (No Reserve Fund)
- Closed
- 10/23/2019
- FY
- 2020
- Role
- Financial advisor; Other costs
- Sale type
- Negotiated
- Par
- $82,565,000
- Fees to this firm
- $76,654
- Per $1,000 of par
- $0.93
Pub Prop Finance Contr Oblig Ser 2019
- Closed
- 10/2/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $25,780,000
- Fees to this firm
- $21,997
- Per $1,000 of par
- $0.85
- Closed
- 10/2/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $40,535,000
- Fees to this firm
- $61,059
- Per $1,000 of par
- $1.51
- Closed
- 10/2/2019
- FY
- 2020
- Role
- Other costs; Financial advisor
- Sale type
- Negotiated
- Par
- $146,090,000
- Fees to this firm
- $127,922
- Per $1,000 of par
- $0.88
Wastewater Sys Rev Ref Bonds Ser 2019
- Closed
- 10/2/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $14,060,000
- Fees to this firm
- $34,700
- Per $1,000 of par
- $2.47
- Closed
- 10/2/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $5,055,000
- Fees to this firm
- $4,313
- Per $1,000 of par
- $0.85
- Closed
- 10/2/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $14,935,000
- Fees to this firm
- $22,497
- Per $1,000 of par
- $1.51
Sales & Use Tax Ref Bonds Txbl Ser 2019B
- Closed
- 9/26/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $23,880,000
- Fees to this firm
- $35,230
- Per $1,000 of par
- $1.48
Sales & Use Tax Ref Bonds Ser 2019A
- Closed
- 9/26/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $64,120,000
- Fees to this firm
- $48,252
- Per $1,000 of par
- $0.75
Elec & Gas Sys Rev Ref Bonds New Ser 2019
- Closed
- 9/25/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $114,685,000
- Fees to this firm
- $81,432
- Per $1,000 of par
- $0.71
Wtr Sys Jr Lien Rev Bonds Ser 2019B (Drinking Wtr State Revolving Fund)
- Closed
- 9/25/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $30,765,000
- Fees to this firm
- $21,921
- Per $1,000 of par
- $0.71
- Closed
- 9/19/2019
- FY
- 2020
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $4,035,000
- Fees to this firm
- $51,219
- Per $1,000 of par
- $12.69
Elec Util Sys Rev Ref Bonds Ser 2019B
- Closed
- 8/21/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $169,850,000
- Fees to this firm
- $152,425
- Per $1,000 of par
- $0.90
Elec Util Sys Rev Ref & Impr Bonds Txbl Ser 2019C
- Closed
- 8/21/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $104,775,000
- Fees to this firm
- $119,888
- Per $1,000 of par
- $1.14
Unl Tax School Bldg Bonds Ser 2019B (VR)
- Closed
- 8/20/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $27,540,000
- Fees to this firm
- $60,260
- Per $1,000 of par
- $2.19
Unl Tax School Bldg Bonds Ser 2019A
- Closed
- 8/20/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $158,800,000
- Fees to this firm
- $141,612
- Per $1,000 of par
- $0.89
- Closed
- 8/15/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $1,200,000
- Fees to this firm
- $87,800
- Per $1,000 of par
- $73.17
- Closed
- 8/15/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $1,570,000
- Fees to this firm
- $54,430
- Per $1,000 of par
- $34.67
Airport Sys Rev Bonds Ser 2019B
- Closed
- 8/13/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $248,170,000
- Fees to this firm
- $194,310
- Per $1,000 of par
- $0.78
Airport Sys Rev Bonds Ser 2019A
- Closed
- 8/13/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $16,975,000
- Fees to this firm
- $61,929
- Per $1,000 of par
- $3.65
- Closed
- 7/30/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $34,655,000
- Fees to this firm
- $80,310
- Per $1,000 of par
- $2.32
Perm Impr Bonds Ser 2019 (Ltd Tax)
- Closed
- 6/27/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Competitive
- Par
- $25,840,000
- Fees to this firm
- $23,409
- Per $1,000 of par
- $0.91
- Closed
- 6/27/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Competitive
- Par
- $14,405,000
- Fees to this firm
- $13,040
- Per $1,000 of par
- $0.91
- Closed
- 6/27/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Competitive
- Par
- $111,640,000
- Fees to this firm
- $101,531
- Per $1,000 of par
- $0.91
- Closed
- 6/13/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $1,000,000
- Fees to this firm
- $21,000
- Per $1,000 of par
- $21.00
Elec Util Sys Rev Bonds Txbl Ser 2019A
- Closed
- 6/13/2019
- FY
- 2019
- Role
- Printing, disclosure and data services; Financial advisor
- Sale type
- Negotiated
- Par
- $464,540,000
- Fees to this firm
- $298,000
- Per $1,000 of par
- $0.64
- Closed
- 6/13/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $1,080,000
- Fees to this firm
- $21,440
- Per $1,000 of par
- $19.85
- Closed
- 6/6/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $5,580,000
- Fees to this firm
- $29,616
- Per $1,000 of par
- $5.31
Unl Tax School Bldg Bonds Ser 2019C (VR)
- Closed
- 5/30/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $85,360,000
- Fees to this firm
- $105,234
- Per $1,000 of par
- $1.23
Unl Tax Ref Bonds Txbl Ser 2019B
- Closed
- 5/21/2019
- FY
- 2019
- Role
- Other costs; Financial advisor
- Sale type
- Negotiated
- Par
- $4,945,000
- Fees to this firm
- $65,790
- Per $1,000 of par
- $13.30
- Closed
- 5/21/2019
- FY
- 2019
- Role
- Other costs; Financial advisor
- Sale type
- Negotiated
- Par
- $9,165,000
- Fees to this firm
- $45,731
- Per $1,000 of par
- $4.99
- Closed
- 5/15/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Competitive
- Par
- $153,950,000
- Fees to this firm
- $80,444
- Per $1,000 of par
- $0.52
- Closed
- 5/15/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Competitive
- Par
- $235,595,000
- Fees to this firm
- $114,735
- Per $1,000 of par
- $0.49
Airport Sys Rev Ref Bonds Ser 2019
- Closed
- 5/8/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $151,720,000
- Fees to this firm
- $148,360
- Per $1,000 of par
- $0.98
Spec Assessment Rev Bonds Ser 2019 (Whisper Valley PID Impr Area 1)
- Closed
- 4/16/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $4,500,000
- Fees to this firm
- $95,000
- Per $1,000 of par
- $21.11
Sr Lien Sales Tax Rev Ref Bonds Ser 2019
- Closed
- 4/9/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $301,095,000
- Fees to this firm
- $50,000
- Per $1,000 of par
- $0.17
- Closed
- 4/8/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $273,025,000
- Fees to this firm
- $193,428
- Per $1,000 of par
- $0.71
Unl Tax School Bldg Bonds Ser 2019
- Closed
- 4/4/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $12,200,000
- Fees to this firm
- $51,563
- Per $1,000 of par
- $4.23
Combined Fee Rev Ref Bonds Ser 2019
- Closed
- 2/26/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $26,870,000
- Fees to this firm
- $29,010
- Per $1,000 of par
- $1.08
Ltd Tax GO Bldg Bonds Ser 2019A
- Closed
- 2/26/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $131,205,000
- Fees to this firm
- $124,022
- Per $1,000 of par
- $0.95
Ltd Tax GO Ref Bonds Ser 2019B
- Closed
- 2/26/2019
- FY
- 2019
- Role
- Financial advisor; Other costs
- Sale type
- Negotiated
- Par
- $11,520,000
- Fees to this firm
- $47,873
- Per $1,000 of par
- $4.16
Tax & Ltd Pledge WW & SS Rev CO Txbl Ser 2019
- Closed
- 2/5/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Private placement
- Par
- $7,560,000
- Fees to this firm
- $20,000
- Per $1,000 of par
- $2.65
Wtr Sys VR Jr Lien Rev Bonds Ser 2019A (No Reserve Fund)
- Closed
- 1/29/2019
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $166,480,000
- Fees to this firm
- $94,450
- Per $1,000 of par
- $0.57
Spec Assessment Rev Bonds Ser 2018 (Estancia Hill Country PID Impr Area 1)
- Closed
- 12/28/2018
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $4,265,000
- Fees to this firm
- $87,300
- Per $1,000 of par
- $20.47
Spec Assessment Rev Bonds Ser 2018 (Estancia Hill Country PID Impr Area 2)
- Closed
- 12/28/2018
- FY
- 2019
- Role
- Financial advisor
- Sale type
- Negotiated
- Par
- $8,305,000
- Fees to this firm
- $168,100
- Per $1,000 of par
- $20.24
Rows 201–250 of 378
Fees are as BRB's table reports them for each issue. The underwriter's spread counts once, and median and per-$1,000 figures use the issuer's one-time costs only: rows paid by the underwriter are shown in the fees but not added to them (how the participant tables are made).
EMMA links are added as each issue is matched.
Source: Local Issuance Fee By Year (updated by the publisher 10/6/2026). 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.
