Board approves short‑term severance‑tax notes (SA1 & SA2) up to $850M
The board approved an authorizing resolution to issue short‑term severance‑tax notes (SA1 and SA2) with combined maximum principal of $850,000,000 (SA1 up to $652,900,000; SA2 up to $197,100,000), to fund legislatively appropriated projects and capital development reserves; notes are to be issued 06/25/2026 and repaid the following day.
The full story
Counsel presented the resolution authorizing issuance and sale of two series of severance tax notes (SA1 and SA2) with a combined maximum cap of $850,000,000. The SA1 note would fund legislatively appropriated projects and statutory set‑asides (maximum $652,900,000) while SA2 (maximum $197,100,000) would add funding for the capital development and reserve fund.
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