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Government Capital Corporation, the administrator of the Texas Education & Facilities Fund, is a leading provider of Qualified School Construction Bond (QSCB) advisory services.  We have successfully completed more QSCB transactions in the state of Texas than any other single firm and we are ready to put our expertise and experience to work for your District.

Qualified School Construction Bond Update (June 2, 2010)

The 2010 Qualified School Construction Bond application has been released by the Texas Education Agency and applications will be accepted until June 30, 2010.  Click here for the TEA Correspondence on the release http://ritter.tea.state.tx.us/taa/schfin051710.html

Districts that receive allocations for 2010 will have two options for funding their QSCB allocations.  One option is the Lender Tax-credit option wherein the bondholder or lender receives tax credits and nets these amounts out of the interest rate to the district.  The other option is the Direct Subsidy option in which the District applies with the U.S. Treasury for reimbursements of interest paid.  There are important considerations for each of these options that Districts should be aware of.  

To learn more about our approach to QSCBs and our recommendation for your allocation, contact one of our Program Directors. 

 A selection of rates from recent closings:

                                       

Iraan-Sheffield ISD 0.30%
Carroll ISD 0.30%
Gonzales ISD 0.90%
Comstock ISD 1.15%
Bandera ISD 1.37%
Groesbeck ISD 0.91%
Atlanta ISD 1.05%

Contingent upon the use of funds, QSCBs may be issued in various forms including GO Bonds, Maintenance Tax Notes, and Contractual Obligations under Local Government Code 271.  ANY facilities related construction or renovation project qualifies, including athletic facilities and the equipment to be used in the facilities (HVAC, lighting, etc.).

 Qualified projects include:

Classroom Expansion Gym Construction
Lighting Retrofit Asbestos Removal
ADA Compliance Stadium Renovations
Parking Lot Expansion HVAC Retrofit
Track Resurfacing All New Construction
Roofing Replacement Land Acquisition

 


Contact the TEFF team for more information:                

Regional Service Centers

1-10

Kevin Lerner

817-722-0216 Direct

kevin@texasedfund.com

Regional Service Centers

11-20

Ed King

817-722-0236 Direct

ed@texasedfund.com

Government Capital

Ron Greiner

903-461-5729

ron@govcap.com