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Texas Veterans Land Board

Veterans Bonds Series 2018

$144,690,000 of principal outstanding at the end of fiscal year 2025.

Terms

Closing date
June 28, 2018
Fiscal year issued
2018
Par amount
$250,000,000
New money / refunding
$250,000,000 / $0
Pledge
Tax-supported (general obligation)
Purpose
Housing land
Program
VLB Land and Housing Bonds
Sale
Negotiated
Final maturity
December 1, 2049

Debt outstanding by fiscal year

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Principal, interest and debt service outstanding at each reporting date
Fiscal yearPeriodPrincipalInterestTotal debt service
2025Year end$144,690,000$23,597,387$168,287,387
2025Period 1$152,535,000$25,179,556$177,714,556
2024Year end$160,740,000$26,846,832$187,586,832
2024Period 1$169,320,000$28,603,103$197,923,103
2023Year end$178,290,000$30,452,416$208,742,416
2023Period 1$187,670,000$32,399,023$220,069,023
2022Year end$197,475,000$34,447,333$231,922,333
2022Period 1$207,720,000$36,601,909$244,321,909
2021Year end$218,175,000$38,864,929$257,039,929
2021Period 1$227,910,000$41,228,925$269,138,925
2020Year end$236,175,000$43,678,651$279,853,651
2020Period 1$242,770,000$46,196,783$288,966,783
2019Year end$247,535,000$48,764,339$296,299,339
2019Period 1$249,730,000$51,354,664$301,084,664
2018Year end$250,000,000$53,947,789$303,947,789

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 totals on this site use; "Period 1" is the earlier report in the same year.

Costs of issuance

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One-time costs reported: $352,164, or $1.41 per $1,000 of par (computed here).

Each cost of issuance, who was paid and how much
CostPaid toTypeAmountPer $1,000
Attorney General reviewNot reportedOne time$9,500.00$0.04
Bond counselBracewell LLPOne time$125,000.00$0.50
Co bond counselLannen & Oliver PCOne time$30,346.00$0.12
Co underwriter counsel (paid by the underwriter)Mahomes Bolden & Warren PCOne time$5,000.00$0.02
Financial advisorGeorge K Baum & CoOne time$87,500.00$0.35
Liquidity providerFederal Home Loan BanksOne timeNot reported
Liquidity provider counselSquire Patton Boggs LLPOne time$12,000.00$0.05
PrintingFinancial Printing Resources IncOne time$818.00$0.00
Rating agencyMoodysOne time$20,000.00$0.08
Rating agencyS&POne timeNot reported
Remarketing agentUMB Bank NAOne timeNot reported
Underwriter's spread: expensesNot reportedOne time$37,000.00$0.15
Underwriter's counsel (paid by the underwriter)Norton Rose Fulbright US LLPOne time$25,000.00$0.10

Source: State Issuance Fee By Year (updated by the publisher Aug 27, 2026); Debt Outstanding By Issuance State By Year (updated by the publisher Aug 26, 2026). Loaded here Oct 3, 2026.

Texas fiscal years run September 1 to August 31.

Figures are as reported to the agency and have not been independently verified.