AUSTIN – Today, the Texas Senate passed Senate Bill 310, which would bring transparency and accountability to the process of issuing certificates of obligation (COs). As documented in the Texas Public Policy Foundation’s report Reform Local Debt Issued Without Voter Approval, local governments have come to increasingly rely on this type of non-voter approved debt which is making an already bad local debt situation worse.
“The Center for Local Governance applauds the Texas Senate for overwhelmingly approving SB 310, a commonsense bill to bring transparency and accountability to the issuance of certificates of obligation, which allow certain local governments to issue debt without voter approval,” said TPPF Center for Local Governance Director James Quintero. “The reforms contained in SB 310 provide critical tools to educate and empower the public on debt that is being issued without their approval.”
To schedule an interview with Mr. Quintero, please contact Caroline Espinosa at firstname.lastname@example.org or 512-472-2700.
James Quintero is director of the Center for Local Governance at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.