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August 27, 2013      2:05 PM

TEXAS SCORES HISTORIC LOW INTEREST RATE FOR SHORT TERM DEBT

The Comptroller's Office that the state received a rate of 0.201 percent for the one-year notes used to manage cash flow on payments to public schools

Comptroller Susan Combs said today that Texas sold $7.2 billion in short term notes that are used to manage the lag from when the state sends aid to public schools in the fall to when tax revenue comes into the Treasury in the spring.

The state received an interest rate of 0.201 percent on the Tax and Revenue Anticipation Notes (TRAN) -- which Combs called a historic low.

By John Reynolds