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Texas Veterans Land Board

Veterans Bonds Series 2019

$158,090,000 of principal outstanding at the end of fiscal year 2025.

Terms

Closing date
April 11, 2019
Fiscal year issued
2019
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
June 1, 2050

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$158,090,000$23,494,975$181,584,975
2025Period 1$166,535,000$25,036,259$191,571,259
2024Year end$175,365,000$26,659,262$202,024,262
2024Period 1$184,600,000$28,367,735$212,967,735
2023Year end$194,250,000$30,165,519$224,415,519
2023Period 1$204,340,000$32,056,686$236,396,686
2022Year end$214,790,000$34,044,568$248,834,568
2022Period 1$224,870,000$36,125,740$260,995,740
2021Year end$233,645,000$38,288,124$271,933,124
2021Period 1$240,795,000$40,516,682$281,311,682
2020Year end$246,190,000$42,795,171$288,985,171
2020Period 1$249,275,000$45,102,211$294,377,211
2019Year end$250,000,000$47,415,961$297,415,961

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: $364,841, or $1.46 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$30,351.00$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 providerJP Morgan Chase & CoAnnualNot reported
Liquidity provider counselChapman & Cutler LLPOne time$25,000.00$0.10
PrintingIsland PrintingOne time$990.00$0.00
Rating agencyMoodysOne time$19,500.00$0.08
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.