Texas Government Code 1231.083 – Report of State Security Sold Through Negotiation
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Terms Used In Texas Government Code 1231.083
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A report concerning a state security sold through negotiation must state:
(1) the components of the spread, including:
(A) management fee;
(B) structuring fee;
(C) underwriting risk;
(D) takedown; and
(E) spread expenses;
(2) each firm’s share of underwriting risk;
(3) the underwriter’s counsel;
(4) a summary of obligation orders and allotments by maturity, firm, and order type; and
(5) each syndicate firm’s share of management fee, structuring fee, underwriting risk fee, and takedown.