State of Texas Veterans Bonds Ser 2020
$168,350,000 of principal outstanding at the end of fiscal year 2025.
Terms
- Par amount
- $250,000,000
- Final maturity
- 12/1/2050
- New money / refunding
- New money $250,000,000Refunding Not reported
- Closing date
- 1/9/2020
- Purpose
- Housing land
- Sale
- Negotiated
- Pledge
- Tax supported
- Fiscal year issued
- 2020
- Program
- VLB Land and Housing Bonds
Changes in BRB's data
No changes since this site began recording on October 6, 2026.
Source: BRB data loads; as of 10/18/2026.
Finance team
Download CSV| Role? | Firm? | Fees paid? |
|---|---|---|
| Financial advisor | Stifel Financial Corp | $87,500 |
| Bond counsel | Bracewell LLP | $125,000 |
| Bond counsel | Lannen & Oliver PC | $30,365 |
| Underwriter's counsel | Locke Lord LLP | $30,000 Paid by the underwriter |
| Rating agency | Moodys | $20,000 |
| Bond insurance and liquidity | Federal Home Loan Banks | $0 |
| Printing, disclosure and data services | Island Printing | $200 |
| Other costs | Squire Patton Boggs LLP | $10,500 |
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 2020 to 2025
- Principal
- Interest
| Fiscal year? | Period? | Principal? | Interest? | Total debt service? |
|---|---|---|---|---|
| Fiscal year2025 | PeriodYear end | Principal$168,350,000 | Interest$14,596,184 | Total debt service$182,946,184 |
| Fiscal year2025 | PeriodPeriod 1 | Principal$177,535,000 | Interest$15,559,048 | Total debt service$193,094,048 |
| Fiscal year2024 | PeriodYear end | Principal$187,150,000 | Interest$16,574,056 | Total debt service$203,724,056 |
| Fiscal year2024 | PeriodPeriod 1 | Principal$197,220,000 | Interest$17,643,678 | Total debt service$214,863,678 |
| Fiscal year2023 | PeriodYear end | Principal$207,755,000 | Interest$18,770,438 | Total debt service$226,525,438 |
| Fiscal year2023 | PeriodPeriod 1 | Principal$218,410,000 | Interest$19,954,984 | Total debt service$238,364,984 |
| Fiscal year2022 | PeriodYear end | Principal$228,210,000 | Interest$21,192,681 | Total debt service$249,402,681 |
| Fiscal year2022 | PeriodPeriod 1 | Principal$236,520,000 | Interest$22,475,448 | Total debt service$258,995,448 |
| Fiscal year2021 | PeriodYear end | Principal$243,160,000 | Interest$23,794,226 | Total debt service$266,954,226 |
| Fiscal year2021 | PeriodPeriod 1 | Principal$247,885,000 | Interest$25,138,630 | Total debt service$273,023,630 |
| Fiscal year2020 | PeriodYear end | Principal$249,850,000 | Interest$26,493,692 | Total debt service$276,343,692 |
| Fiscal year2020 | PeriodPeriod 1 | Principal$250,000,000 | Interest$27,849,567 | Total debt service$277,849,567 |
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: $320,065, or $1.28 per $1,000 of par.
Shown below but not added: $30,000 paid by the underwriter.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 2 fees | 48.5% of the issuer's costs | Subtotal $155,365 | Per $1,000$0.62 | |
| Similar issues: median $0.61 per $1,000 | ||||
| CostBond counsel | Paid toBracewell LLP | TypeOne time | Amount$125,000.00 | Per $1,000$0.50 |
| CostCo-bond counsel | Paid toLannen & Oliver PC | TypeOne time | Amount$30,365.00 | Per $1,000$0.12 |
| CostFinancial advisor 1 fee | 27.3% of the issuer's costs | Subtotal $87,500 | Per $1,000$0.35 | |
| Similar issues: median $0.35 per $1,000 | ||||
| CostFinancial advisor | Paid toStifel Financial Corp | TypeOne time | Amount$87,500.00 | Per $1,000$0.35 |
| CostUnderwriter 1 fee | 11.6% of the issuer's costs | Subtotal $37,000 | Per $1,000$0.15 | |
| Similar issues: median $3.16 per $1,000 | ||||
| CostUnderwriter's spread: expenses | Paid toNot reported | TypeOne time | Amount$37,000.00 | Per $1,000$0.15 |
| CostUnderwriter's counsel 1 fee | Subtotal $30,000 | Per $1,000Not added | ||
| CostUnderwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toLocke Lord LLP | TypeOne time | Amount$30,000.00 | Per $1,000$0.12 |
| CostRating agency 1 fee | 6.2% of the issuer's costs | Subtotal $20,000 | Per $1,000$0.08 | |
| Similar issues: median $0.23 per $1,000 | ||||
| CostRating agency | Paid toMoodys | TypeOne time | Amount$20,000.00 | Per $1,000$0.08 |
| CostOther 4 fees | 6.3% of the issuer's costs | Subtotal $20,200 | Per $1,000$0.08 | |
| Similar issues: median $0.11 per $1,000 | ||||
| CostAttorney General review | Paid toNot reported | TypeOne time | Amount$9,500.00 | Per $1,000$0.04 |
| CostLiquidity provider | Paid toFederal Home Loan Banks | TypeOne time | Amount$0.00 | Per $1,000$0.00 |
| CostLiquidity provider counsel | Paid toSquire Patton Boggs LLP | TypeOne time | Amount$10,500.00 | Per $1,000$0.04 |
| CostPrinting | Paid toIsland Printing | TypeOne time | Amount$200.00 | Per $1,000Under $0.01 |
| CostTotal, 10 fees | Amount$350,065 | Per $1,000 | ||
| CostCosts to the issuer | Amount$320,065 | Per $1,000$1.28 | ||
Bond counsel 2 fees48.5%$155,365$0.62 per $1,000Similar issues: median $0.61 per $1,000
- Cost
- Bond counsel
- Paid to
- Bracewell LLP
- Type
- One time
- Amount
- $125,000.00
- Per $1,000
- $0.50
- Cost
- Co-bond counsel
- Paid to
- Lannen & Oliver PC
- Type
- One time
- Amount
- $30,365.00
- Per $1,000
- $0.12
Financial advisor 1 fee27.3%$87,500$0.35 per $1,000Similar issues: median $0.35 per $1,000
- Cost
- Financial advisor
- Paid to
- Stifel Financial Corp
- Type
- One time
- Amount
- $87,500.00
- Per $1,000
- $0.35
Underwriter 1 fee11.6%$37,000$0.15 per $1,000Similar issues: median $3.16 per $1,000
- Cost
- Underwriter's spread: expenses
- Paid to
- Not reported
- Type
- One time
- Amount
- $37,000.00
- Per $1,000
- $0.15
Underwriter's counsel 1 fee$30,000Not added
- Cost
- Underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Locke Lord LLP
- Type
- One time
- Amount
- $30,000.00
- Per $1,000
- $0.12
Rating agency 1 fee6.2%$20,000$0.08 per $1,000Similar issues: median $0.23 per $1,000
- Cost
- Rating agency
- Paid to
- Moodys
- Type
- One time
- Amount
- $20,000.00
- Per $1,000
- $0.08
Other 4 fees6.3%$20,200$0.08 per $1,000Similar issues: median $0.11 per $1,000
- Cost
- Attorney General review
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,500.00
- Per $1,000
- $0.04
- Cost
- Liquidity provider
- Paid to
- Federal Home Loan Banks
- Type
- One time
- Amount
- $0.00
- Per $1,000
- $0.00
- Cost
- Liquidity provider counsel
- Paid to
- Squire Patton Boggs LLP
- Type
- One time
- Amount
- $10,500.00
- Per $1,000
- $0.04
- Cost
- Printing
- Paid to
- Island Printing
- Type
- One time
- Amount
- $200.00
- Per $1,000
- Under $0.01
- Total, 10 fees
- $350,065
- Costs to the issuer
- $320,065$1.28 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 10/18/2026.
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.