On Sept. 13, 2003, Texas voters approved a constitutional amendment (Article III, Section 49-n) permitting the Texas Legislature to authorize the Texas Transportation Commission to issue bonds to fund state highway improvement projects payable from certain revenues deposited to the credit of the State Highway Fund and held in the State Treasury.
The Legislature has authorized the Commission to issue up to $6 billion aggregate principal amount, of which $1.2 billion must be designated for safety projects. The maximum maturity for bonds in this program is 20 years.
State Highway Fund Bond Series
|Series||CUSIP Base No.||Par Amount Issued||
|2010 *||88283L||$1,500,000,000||Not rated||Aaa||AAA|
Note: * = Taxable Build America Bonds
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