Notice of Intent to Issue Debt
(Exempt Issuers Only)

The Texas Bond Review Board is responsible for approval of all state bond issues and lease purchases with an initial principal amount greater than $250,000 or a financing term greater than five years.

Exempt issuers, as defined by Section 181.9 of the BRB Rules, are required to submit a Notice of Intent form to the Bond Review Board.

The Notice of Intent must contain:

  • A completed Exempt Issuer Notice of Intent form.
  • Proposed debt service schedule.
  • Proposed cash flow schedule.
  • Proposed Sources & Uses statement.
  • Timetable of the financing.
  • Evidence that all necessary approvals for the issuance of the state securities or the project to be financed, including authorization of the Issuer's Board to proceed with the financing, have been obtained (i.e. Board minute order or resolution).
  • All information requested above should be emailed to State Debt Analysts. Please attach the information requested above to your email.

If the Exempt Issuer Notice of Intent is incomplete on the final date for posting the Bond Review Board's next planning meeting agenda, then the transaction will be included on the agenda for consideration by the Bond Review Board at the next planning and Board meetings. Such transactions will be considered for Exempt treatment as provided in Section 181.9 of the Bond Review Board rules once the requirements for an Exempt Issuer NOI are satisfied. If the exempt process is successfully completed prior to the posted meetings, the transaction will be removed from consideration. Additionally, the Notice of Intent will be treated as an application for purposes of Section 181.3 of the Bond Review Board rules if it is required to be considered at the meetings.

The Bond Review Board's response time will not begin until all the information requested above, including any supplemental clarifying or corrective information, has been received by the Bond Review Board staff and the Notice of Intent has been forwarded to the Board in accordance with Section 181.9 of the Bond Review Board rules. The Bond Review Board staff will notify the Exempt Issuer when the response time has begun.