Texas Transportation Commission
State of Texas Highway Improvement GO Bonds, Ser 2014
Last reported in fiscal year 2023, with $126,000,000 of principal then outstanding.
Terms
- Par amount
- $1,260,000,000
- Final maturity
- 4/1/2026
- New money / refunding
- New money $1,260,000,000Refunding Not reported
- Closing date
- 10/15/2014
- Purpose
- Transportation
- Sale
- Negotiated
- Pledge
- Tax supported
- Fiscal year issued
- 2015
- Program
- TTC GO Transportation 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? |
|---|---|---|
| Financial advisor | Estrada Hinojosa & Co Inc | $103,341 |
| Bond counsel | McCall Parkhurst & Horton LLP | $176,000 |
| Disclosure counsel | Andrews & Kurth LLP | $126,000 |
| Underwriter's counsel | Escamilla & Poneck LLP | $43,750 Paid by the underwriter |
| Underwriter's counsel | Locke Lord LLP | $81,250 Paid by the underwriter |
| Rating agency | Fitch | $100,000 |
| Rating agency | Moodys | $120,000 |
| Rating agency | S&P | $110,880 |
| Paying agent, trustee and escrow | US Bank | $175 |
| Printing, disclosure and data services | ImageMaster LLC | $1,863 |
| Other costs | Texas Bond Review Board | No amount reported |
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 years 2016 to 2024
- Principal
- Interest
| Fiscal year? | Period? | Principal? | Interest? | Total debt service? |
|---|---|---|---|---|
| Fiscal year2024 | PeriodPeriod 1 | Principal$126,000,000 | Interest$9,450,000 | Total debt service$135,450,000 |
| Fiscal year2023 | PeriodYear end | Principal$126,000,000 | Interest$12,600,000 | Total debt service$138,600,000 |
| Fiscal year2023 | PeriodPeriod 1 | Principal$168,000,000 | Interest$16,800,000 | Total debt service$184,800,000 |
| Fiscal year2022 | PeriodYear end | Principal$168,000,000 | Interest$21,000,000 | Total debt service$189,000,000 |
| Fiscal year2022 | PeriodPeriod 1 | Principal$210,000,000 | Interest$26,250,000 | Total debt service$236,250,000 |
| Fiscal year2021 | PeriodYear end | Principal$210,000,000 | Interest$31,500,000 | Total debt service$241,500,000 |
| Fiscal year2021 | PeriodPeriod 1 | Principal$252,000,000 | Interest$37,800,000 | Total debt service$289,800,000 |
| Fiscal year2020 | PeriodYear end | Principal$252,000,000 | Interest$44,100,000 | Total debt service$296,100,000 |
| Fiscal year2020 | PeriodPeriod 1 | Principal$966,000,000 | Interest$538,440,000 | Total debt service$1,504,440,000 |
| Fiscal year2019 | PeriodYear end | Principal$1,050,000,000 | Interest$664,860,000 | Total debt service$1,714,860,000 |
| Fiscal year2019 | PeriodPeriod 1 | Principal$1,092,000,000 | Interest$691,530,000 | Total debt service$1,783,530,000 |
| Fiscal year2018 | PeriodYear end | Principal$1,092,000,000 | Interest$718,200,000 | Total debt service$1,810,200,000 |
| Fiscal year2018 | PeriodPeriod 1 | Principal$1,134,000,000 | Interest$745,920,000 | Total debt service$1,879,920,000 |
| Fiscal year2017 | PeriodYear end | Principal$1,134,000,000 | Interest$773,640,000 | Total debt service$1,907,640,000 |
| Fiscal year2017 | PeriodPeriod 1 | Principal$1,176,000,000 | Interest$802,410,000 | Total debt service$1,978,410,000 |
| Fiscal year2016 | PeriodYear end | Principal$1,176,000,000 | Interest$831,180,000 | Total debt service$2,007,180,000 |
| Fiscal year2016 | PeriodPeriod 1 | Principal$1,218,000,000 | Interest$861,000,000 | Total debt service$2,079,000,000 |
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: $5,382,245, or $4.27 per $1,000 of par.
Shown below but not added: $125,000 paid by the underwriter.
1 row reports no amount.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 1 fee | 3.3% of the issuer's costs | Subtotal $176,000 | Per $1,000$0.14 | |
| CostBond counsel | Paid toMcCall Parkhurst & Horton LLP | TypeOne time | Amount$176,000.00 | Per $1,000$0.14 |
| CostDisclosure counsel 1 fee | 2.3% of the issuer's costs | Subtotal $126,000 | Per $1,000$0.10 | |
| CostDisclosure counsel | Paid toAndrews & Kurth LLP | TypeOne time | Amount$126,000.00 | Per $1,000$0.10 |
| CostFinancial advisor 1 fee | 1.9% of the issuer's costs | Subtotal $103,341 | Per $1,000$0.08 | |
| CostFinancial advisor | Paid toEstrada Hinojosa & Co Inc | TypeOne time | Amount$103,341.00 | Per $1,000$0.08 |
| CostUnderwriter 2 fees | 86.1% of the issuer's costs | Subtotal $4,634,486 | Per $1,000$3.68 | |
| CostUnderwriter's spread: expenses | Paid toNot reported | TypeOne time | Amount$276,566.00 | Per $1,000$0.22 |
| CostUnderwriter's spread: takedown | Paid toNot reported | TypeOne time | Amount$4,357,920.00 | Per $1,000$3.46 |
| CostUnderwriter's counsel 2 fees | Subtotal $125,000 | Per $1,000Not added | ||
| CostCo-underwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toEscamilla & Poneck LLP | TypeOne time | Amount$43,750.00 | Per $1,000$0.03 |
| CostUnderwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toLocke Lord LLP | TypeOne time | Amount$81,250.00 | Per $1,000$0.06 |
| CostRating agency 3 fees | 6.1% of the issuer's costs | Subtotal $330,880 | Per $1,000$0.26 | |
| CostRating agency | Paid toFitch | TypeOne time | Amount$100,000.00 | Per $1,000$0.08 |
| CostRating agency | Paid toMoodys | TypeOne time | Amount$120,000.00 | Per $1,000$0.10 |
| CostRating agency | Paid toS&P | TypeOne time | Amount$110,880.00 | Per $1,000$0.09 |
| CostOther 4 fees | 0.2% of the issuer's costs | Subtotal $11,538 | Per $1,000$0.01 | |
| CostAttorney General review | Paid toNot reported | TypeOne time | Amount$9,500.00 | Per $1,000$0.01 |
| CostPaying agent and registrar | Paid toUS Bank | TypeOne time | Amount$175.00 | Per $1,000Under $0.01 |
| CostPrinting | Paid toImageMaster LLC | TypeOne time | Amount$1,863.00 | Per $1,000Under $0.01 |
| CostPrivate activity | Paid toTexas Bond Review Board | TypeOne time | AmountNot reported | Per $1,000Not reported |
| CostTotal, 14 fees | Amount$5,507,245 | Per $1,000 | ||
| CostCosts to the issuer | Amount$5,382,245 | Per $1,000$4.27 | ||
Bond counsel 1 fee3.3%$176,000$0.14 per $1,000
- Cost
- Bond counsel
- Paid to
- McCall Parkhurst & Horton LLP
- Type
- One time
- Amount
- $176,000.00
- Per $1,000
- $0.14
Disclosure counsel 1 fee2.3%$126,000$0.10 per $1,000
- Cost
- Disclosure counsel
- Paid to
- Andrews & Kurth LLP
- Type
- One time
- Amount
- $126,000.00
- Per $1,000
- $0.10
Financial advisor 1 fee1.9%$103,341$0.08 per $1,000
- Cost
- Financial advisor
- Paid to
- Estrada Hinojosa & Co Inc
- Type
- One time
- Amount
- $103,341.00
- Per $1,000
- $0.08
Underwriter 2 fees86.1%$4,634,486$3.68 per $1,000
- Cost
- Underwriter's spread: expenses
- Paid to
- Not reported
- Type
- One time
- Amount
- $276,566.00
- Per $1,000
- $0.22
- Cost
- Underwriter's spread: takedown
- Paid to
- Not reported
- Type
- One time
- Amount
- $4,357,920.00
- Per $1,000
- $3.46
Underwriter's counsel 2 fees$125,000Not added
- Cost
- Co-underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Escamilla & Poneck LLP
- Type
- One time
- Amount
- $43,750.00
- Per $1,000
- $0.03
- Cost
- Underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Locke Lord LLP
- Type
- One time
- Amount
- $81,250.00
- Per $1,000
- $0.06
Rating agency 3 fees6.1%$330,880$0.26 per $1,000
- Cost
- Rating agency
- Paid to
- Fitch
- Type
- One time
- Amount
- $100,000.00
- Per $1,000
- $0.08
- Cost
- Rating agency
- Paid to
- Moodys
- Type
- One time
- Amount
- $120,000.00
- Per $1,000
- $0.10
- Cost
- Rating agency
- Paid to
- S&P
- Type
- One time
- Amount
- $110,880.00
- Per $1,000
- $0.09
Other 4 fees0.2%$11,538$0.01 per $1,000
- Cost
- Attorney General review
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,500.00
- Per $1,000
- $0.01
- Cost
- Paying agent and registrar
- Paid to
- US Bank
- Type
- One time
- Amount
- $175.00
- Per $1,000
- Under $0.01
- Cost
- Printing
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $1,863.00
- Per $1,000
- Under $0.01
- Cost
- Private activity
- Paid to
- Texas Bond Review Board
- Type
- One time
- Amount
- Not reported
- Per $1,000
- Not reported
- Total, 14 fees
- $5,507,245
- Costs to the issuer
- $5,382,245$4.27 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.