Municipal Advisory Council Of Texas

THE MAC IS THE ONLY SOURCE, IN TEXAS, OF COMPREHENSIVE FINANCIAL INFORMATION REGARDING MUNICIPAL DEBT ISSUERS. ITS INFORMATION SERVICES PROVIDE BENEFITS TO ISSUERS, BROKER-DEALERS, INVESTORS, STATE GOVERNMENT AND THE CITIZENS OF TEXAS.

TEXAS MUNICIPAL REPORTS - THE MAC PUBLISHES AND REGULARLY UPDATES NEARLY 5,000 TEXAS MUNICIPAL REPORTS (TMRS), WHICH ARE A COLLECTION OF FINANCIAL AND ECONOMIC DATA ON EACH STATE AGENCY AND LOCAL GOVERNMENT ISSUER. EACH TMR INCLUDES, AT A MINIMUM, AN ISSUER'S OUTSTANDING DEBT AND DEBT SERVICE SCHEDULE, ITS BASIC FINANCIAL OPERATING STATEMENTS, ITS ECONOMIC BACKGROUND, AND A LIST OF ITS FINANCE-RELATED OFFICIALS. THE TMRS ALSO INCLUDE VITAL TAX INFORMATION FOR ISSUERS WITH TAX-SUPPORTED DEBT. TO FACILITATE TMR PRODUCTION, MAC ANALYSTS UTILIZE DATA FROM AUDITS, CONTINUING DISCLOSURE FILINGS, OFFICIAL STATEMENTS, COUNTY APPRAISAL DISTRICTS, THE STATE COMPTROLLER'S OFFICE, AND VARIOUS WEBSITES. THE MAC USES THE INFORMATION FROM ISSUERS WITH OVERLAPPING JURISDICTIONS TO CALCULATE THEIR OVERLAPPING TAX-SUPPORTED DEBT BURDENS. TMRS AND ADDITIONAL INFORMATION, SUCH AS BOND RATINGS, TRADE DATA FROM THE MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB) AND ASSOCIATED DOCUMENTS, ARE AVAILABLE ON-LINE AND ARE UPDATED BY THE MAC DAILY. IN 2021, OVER 4,100 TMRS WERE UPDATED AND 2,122 NEW BOND ISSUES, 234 BOND ELECTIONS, AND OVER 208,000 NEW DOCUMENTS WERE ADDED TO THE MAC DATABASE.

TEXAS BOND REPORTER - THE MAC PUBLISHES THE TEXAS BOND REPORTER, A WEEKLY MAGAZINE THAT PROVIDES THE UPCOMING WEEK'S COMPETITIVE AND NEGOTIATED SALE CALENDAR, SCHEDULED BOND ELECTIONS, MATERIAL EVENT NOTICES, AND OTHER TIMELY ISSUER UPDATES. THE TEXAS BOND REPORTER QUALIFIES AS A FINANCIAL JOURNAL PUBLISHED IN THE STATE FOR PURPOSES OF LAWS AND BOND COVENANTS REQUIRING PUBLICATION OF NOTICES. THE MAC PUBLISHES ISSUER NOTICES WITHOUT CHARGE.

SERVICE TO STATE AGENCIES - MAC SUPPLIES INFORMATION REGARDING TEXAS MUNICIPAL DEBT ISSUERS TO FOUR STATE AGENCIES FOR USE IN RELATED PROGRAMS - THE TEXAS BOND REVIEW BOARD, WHICH IS CHARGED WITH APPROVING AND MONITORING DEBT ISSUED BY STATE AGENCIES; THE TEXAS WATER DEVELOPMENT BOARD, WHICH RUNS A STATE BOND BANK TO FINANCE WATER RESOURCE AND CLEANWATER PROJECTS BY PURCHASING LOCAL GOVERNMENT DEBT ISSUED FOR THAT PURPOSE; THE TEXAS EDUCATION AGENCY, WHICH MANAGES A FINANCIAL GUARANTY PROGRAM FOR SCHOOL DISTRICT DEBT BACKED BY THE STATE'S PERMANENT SCHOOL FUND (PSF); AND THE TEXAS PUBLIC FINANCE AUTHORITY, WHICH PROVIDES FINANCING FOR THE CONSTRUCTION OR ACQUISITION OF FACILITIES FOR STATE AGENCIES.