1. (a) All issuers whose state securities are subject to review by the Board must file state debt issuer reports with the bond finance office on a semi-annual basis. Reports shall be submitted no later than March 15 for the six month period ending the last day of February and no later than September 15 for the six month period ending August 31.

2. (b) The semi-annual reports shall include:

   1. (1) an explanation of any change during the fiscal year previous to the deadline for this report, in the debt-retirement schedule for any outstanding state security issue (e.g. exercise of redemption provision, conversion from short-term to long-term securities, etc.);
   2. (2) a description of any state security issues expected during the fiscal year, including type of issue, estimated amount, and expected month of sale;
   3. (3) a list of all state security issues outstanding and corresponding debt service schedules for all securities outstanding in a digital and hard copy format; and
   4. (4) a list of all interest rate management agreements, including the associated issue name, effective and termination dates, original and current notional amounts, terms of the agreement (fixed rate paid/variable rate received, variable rate paid/variable rate received), true interest cost, counterparty and counterparty ratings.

3. (c) An issuer of state securities issued in the form of commercial paper notes shall submit as part of the required semi-annual reports the following information for so long as the issuer has authority to issue commercial paper under program proceedings approved by the Board or exempt from approval pursuant to §181.9 of this title (relating to State Exemptions). The report shall contain the following information:

   1. (1) the aggregate principal amount of commercial paper that the issuer is authorized to issue and have outstanding at any one time;
   2. (2) the aggregate principal amount of commercial paper outstanding as of the end of such semi-annual period;
   3. (3) the aggregate principal amount of commercial paper issued to fund project costs during such semi-annual period; and
   4. (4) a list of the projects for which commercial paper was issued during such semi-annual period.
4. (d) All issuers whose state securities are subject to review by the Board must file material event notices with the bond finance office when a submission is made by an issuer to the Municipal Securities Rulemaking Board, Nationally Recognized Municipal Securities Information Repositories, or any applicable State Information Depository pursuant to Securities and Exchange Commission Rule 15c2-12(b)(5)(i)(C), as amended, or any analogous state statute. When requested by the bond finance office, such issuers must also file financial information with the office when the information is submitted by an issuer to any of the above-described repositories pursuant to Securities and Exchange Commission Rule 15c2-12(b)(5)(i)(A) or (B), as amended, or any analogous state statute.

Source Note:The provisions of this §181.10 adopted to be effective August 10, 1988, 13 TexReg 3755; amended to be effective February 27, 2002, 27 TexReg 1335; amended to be effective April 9, 2008, 33 TexReg 2828; amended to be effective October 8, 2009, 34 TexReg 6859.