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This study, commissioned by the Texas Bond Review Board, was undertaken to analyze Texas government's policies and procedures for managing state debt. In particular, the report describes recent debt trends, the legislative process for making debt decisions, the debt issuance process, and the state's formal and informal policies related to debt management. Data for this research include interviews with state employees who are involved with the issuance or oversight of state debt, analyses of other state's practices, and analyses of state reports and data related to debt management. The report offers recommendations on how Texas might improve its management of state debt. The recommendations are listed in three major categories—legislative process, debt issuance process, and debt policies.
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