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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
Fitch

Moody's

S&P
Official Statement
2010 * 88283L $1,500,000,000 Not rated Aaa AAA Needs Alt Tag
2008 88283L $162,995,000 Not rated Aaa AAA Needs Alt Tag
2007 88283L $1,241,845,000 Not rated Aaa AAA Needs Alt Tag
2006-A 88283L $852,550,000 Not rated Aaa AAA Needs Alt Tag
2006-B 88283L $100,000,000 Not rated Aaa/VMIG1 AAA/A-1+ Needs Alt Tag
2006 88283L $600,000,000 Not rated Aaa AAA Needs Alt Tag

        Note: * = Taxable Build America Bonds

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