Texas Transportation Commission
Mobility Fund Ref Bonds Ser 2024
$840,260,000 of principal outstanding at the end of fiscal year 2025.
Terms
- Par amount
- $840,260,000
- Final maturity
- 10/1/2044
- New money / refunding
- New money Not reportedRefunding $840,260,000
- Closing date
- 10/1/2024
- Purpose
- Refunding
- Sale
- Negotiated
- Pledge
- Tax supported
- Fiscal year issued
- 2025
- Program
- TXDOT TTC Mobility Fund Bonds
Changes in BRB's data
No changes since this site began recording on October 6, 2026.
Source: BRB data loads; as of 10/17/2026.
Finance team
Download CSV| Role? | Firm? | Fees paid? |
|---|---|---|
| Underwriter | BA Securities LLC | $2,500,969 |
| Financial advisor | Estrada Hinojosa & Co Inc | $178,000 |
| Bond counsel | McCall Parkhurst & Horton LLP | $241,000 |
| Disclosure counsel | Bracewell LLP | $84,026 |
| Underwriter's counsel | Locke Lord LLP | $84,026 Paid by the underwriter |
| Rating agency | Moodys | $99,450 |
| Rating agency | S&P | $105,393 |
| Paying agent, trustee and escrow | The Arbitrage Group Inc | $2,000 |
| Paying agent, trustee and escrow | UMB Bank NA | $600 |
| Printing, disclosure and data services | BA Securities LLC | $968 Paid by the underwriter |
| Printing, disclosure and data services | ImageMaster LLC | $2,500 |
| Other costs | BA Securities LLC | $736,925 $975 paid by the underwriter |
| Other costs | Ipreo LLC | $84,390 Paid by the underwriter |
| Other costs | Piper Sandler & Co | $1,500 |
| Other costs | UMB Bank NA | $600 |
From the costs of issuance reported to BRB. A firm that was not paid a reported fee is not listed.
Debt outstanding by fiscal year
Fiscal year 2025
- Principal
- Interest
| Fiscal year? | Period? | Principal? | Interest? | Total debt service? |
|---|---|---|---|---|
| Fiscal year2025 | PeriodYear end | Principal$840,260,000 | Interest$246,630,500 | Total debt service$1,086,890,500 |
State issues are reported twice each fiscal year. "Year end" is the balance at the end of the fiscal year (reporting period 2), which the chart and the totals on this site use; "Period 1" is the earlier report in the same year. Where BRB reports a year end in more than one row, the chart and the totals add them.
Costs of issuance
Download CSVOne-time costs to the issuer: $3,988,669, or $4.75 per $1,000 of par.
Shown below but not added: $170,359 paid by the underwriter.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 3 fees | 6.0% of the issuer's costs | Subtotal $241,000 | Per $1,000$0.29 | |
| CostBond counsel | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$215,000.00 | Per $1,000$0.26 |
| CostBond counsel expense | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$25,000.00 | Per $1,000$0.03 |
| CostBond counsel expense | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$1,000.00 | Per $1,000Under $0.01 |
| CostDisclosure counsel 1 fee | 2.1% of the issuer's costs | Subtotal $84,026 | Per $1,000$0.10 | |
| CostDisclosure counsel | Paid toBracewell LLP | TypeOne time | Amount$84,026.00 | Per $1,000$0.10 |
| CostFinancial advisor 2 fees | 4.5% of the issuer's costs | Subtotal $178,000 | Per $1,000$0.21 | |
| CostFinancial advisor | Paid toEstrada Hinojosa & Co Inc | TypeOne time | Amount$175,000.00 | Per $1,000$0.21 |
| CostFinancial advisor | Paid toEstrada Hinojosa & Co Inc | TypeOne time | Amount$3,000.00 | Per $1,000Under $0.01 |
| CostUnderwriter 1 fee | 62.7% of the issuer's costs | Subtotal $2,500,969 | Per $1,000$2.98 | |
| CostUnderwriter's spread: takedown | Paid toBA Securities LLC | TypeOne time | Amount$2,500,968.75 | Per $1,000$2.98 |
| CostUnderwriter's counsel 1 fee | Subtotal $84,026 | Per $1,000Not added | ||
| CostCo-underwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toLocke Lord LLP | TypeOne time | Amount$84,026.00 | Per $1,000$0.10 |
| CostRating agency 2 fees | 5.1% of the issuer's costs | Subtotal $204,843 | Per $1,000$0.24 | |
| CostRating agency | Paid toMoodys | TypeOne time | Amount$99,450.00 | Per $1,000$0.12 |
| CostRating agency | Paid toS&P | TypeOne time | Amount$105,393.00 | Per $1,000$0.13 |
| CostOther 15 fees | 19.6% of the issuer's costs | Subtotal $779,831 | Per $1,000$0.93 | |
| CostAttorney General review | Paid toNot reported | TypeOne time | Amount$9,500.00 | Per $1,000$0.01 |
| CostContingency | Paid toNot reported | TypeOne time | Amount$27,180.79 | Per $1,000$0.03 |
| CostCUSIP Counted as: Paid by the underwriter: shown, not added | Paid toBA Securities LLC | TypeOne time | Amount$968.00 | Per $1,000Under $0.01 |
| CostEscrow agent | Paid toUMB Bank NA | TypeOne time | Amount$250.00 | Per $1,000Under $0.01 |
| CostEscrow verification | Paid toThe Arbitrage Group Inc | TypeOne time | Amount$2,000.00 | Per $1,000Under $0.01 |
| CostOther costs | Paid toBA Securities LLC | TypeOne time | Amount$80,000.00 | Per $1,000$0.10 |
| CostOther costs Counted as: Paid by the underwriter: shown, not added | Paid toBA Securities LLC | TypeOne time | Amount$975.00 | Per $1,000Under $0.01 |
| CostOther costs | Paid toBA Securities LLC | TypeOne time | Amount$2,000.00 | Per $1,000Under $0.01 |
| CostOther costs | Paid toBA Securities LLC | TypeOne time | Amount$648,950.00 | Per $1,000$0.77 |
| CostOther costs | Paid toBA Securities LLC | TypeOne time | Amount$5,000.00 | Per $1,000$0.01 |
| CostOther costs Counted as: Paid by the underwriter: shown, not added | Paid toIpreo LLC | TypeOne time | Amount$84,389.96 | Per $1,000$0.10 |
| CostOther costs | Paid toPiper Sandler & Co | TypeOne time | Amount$1,500.00 | Per $1,000Under $0.01 |
| CostOther costs | Paid toUMB Bank NA | TypeOne time | Amount$600.00 | Per $1,000Under $0.01 |
| CostPaying agent and registrar | Paid toUMB Bank NA | TypeOne time | Amount$350.00 | Per $1,000Under $0.01 |
| CostPrinting | Paid toImageMaster LLC | TypeOne time | Amount$2,500.00 | Per $1,000Under $0.01 |
| CostTotal, 25 fees | Amount$4,159,028 | Per $1,000 | ||
| CostCosts to the issuer | Amount$3,988,669 | Per $1,000$4.75 | ||
Bond counsel 3 fees6.0%$241,000$0.29 per $1,000
- Cost
- Bond counsel
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $215,000.00
- Per $1,000
- $0.26
- Cost
- Bond counsel expense
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $25,000.00
- Per $1,000
- $0.03
- Cost
- Bond counsel expense
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $1,000.00
- Per $1,000
- Under $0.01
Disclosure counsel 1 fee2.1%$84,026$0.10 per $1,000
- Cost
- Disclosure counsel
- Paid to
- Bracewell LLP
- Type
- One time
- Amount
- $84,026.00
- Per $1,000
- $0.10
Financial advisor 2 fees4.5%$178,000$0.21 per $1,000
- Cost
- Financial advisor
- Paid to
- Estrada Hinojosa & Co Inc
- Type
- One time
- Amount
- $175,000.00
- Per $1,000
- $0.21
- Cost
- Financial advisor
- Paid to
- Estrada Hinojosa & Co Inc
- Type
- One time
- Amount
- $3,000.00
- Per $1,000
- Under $0.01
Underwriter 1 fee62.7%$2,500,969$2.98 per $1,000
- Cost
- Underwriter's spread: takedown
- Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $2,500,968.75
- Per $1,000
- $2.98
Underwriter's counsel 1 fee$84,026Not added
- Cost
- Co-underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Locke Lord LLP
- Type
- One time
- Amount
- $84,026.00
- Per $1,000
- $0.10
Rating agency 2 fees5.1%$204,843$0.24 per $1,000
- Cost
- Rating agency
- Paid to
- Moodys
- Type
- One time
- Amount
- $99,450.00
- Per $1,000
- $0.12
- Cost
- Rating agency
- Paid to
- S&P
- Type
- One time
- Amount
- $105,393.00
- Per $1,000
- $0.13
Other 15 fees19.6%$779,831$0.93 per $1,000
- Cost
- Attorney General review
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,500.00
- Per $1,000
- $0.01
- Cost
- Contingency
- Paid to
- Not reported
- Type
- One time
- Amount
- $27,180.79
- Per $1,000
- $0.03
- Cost
- CUSIP
Counted as: Paid by the underwriter: shown, not added - Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $968.00
- Per $1,000
- Under $0.01
- Cost
- Escrow agent
- Paid to
- UMB Bank NA
- Type
- One time
- Amount
- $250.00
- Per $1,000
- Under $0.01
- Cost
- Escrow verification
- Paid to
- The Arbitrage Group Inc
- Type
- One time
- Amount
- $2,000.00
- Per $1,000
- Under $0.01
- Cost
- Other costs
- Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $80,000.00
- Per $1,000
- $0.10
- Cost
- Other costs
Counted as: Paid by the underwriter: shown, not added - Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $975.00
- Per $1,000
- Under $0.01
- Cost
- Other costs
- Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $2,000.00
- Per $1,000
- Under $0.01
- Cost
- Other costs
- Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $648,950.00
- Per $1,000
- $0.77
- Cost
- Other costs
- Paid to
- BA Securities LLC
- Type
- One time
- Amount
- $5,000.00
- Per $1,000
- $0.01
- Cost
- Other costs
Counted as: Paid by the underwriter: shown, not added - Paid to
- Ipreo LLC
- Type
- One time
- Amount
- $84,389.96
- Per $1,000
- $0.10
- Cost
- Other costs
- Paid to
- Piper Sandler & Co
- Type
- One time
- Amount
- $1,500.00
- Per $1,000
- Under $0.01
- Cost
- Other costs
- Paid to
- UMB Bank NA
- Type
- One time
- Amount
- $600.00
- Per $1,000
- Under $0.01
- Cost
- Paying agent and registrar
- Paid to
- UMB Bank NA
- Type
- One time
- Amount
- $350.00
- Per $1,000
- Under $0.01
- Cost
- Printing
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $2,500.00
- Per $1,000
- Under $0.01
- Total, 25 fees
- $4,159,028
- Costs to the issuer
- $3,988,669$4.75 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: State Issuance Fee By Year (updated by the publisher 8/27/2026); Debt Outstanding By Issuance State By Year (updated by the publisher 10/6/2026). Loaded here 10/17/2026.
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.