The State Auditor's Office certifies that, for the fiscal year ended August 31, 2013, the amount of school district bonds guaranteed by the Permanent School Fund's (Fund) Bond Guarantee Program (Program) was within the limits applicable to the Program. As of August 31, 2013, the total principal of the 2,789 outstanding bond issues guaranteed by the Program was $55.2 billion. In addition, as of that date, the bond guarantee capacity of the Program under the State Board of Education (Board) limit was $76.8 billion, and the Board held in reserve $3.8 billion of that capacity. The bond guarantee capacity under the Internal Revenue Service (IRS) limit was $117.3 billion.
The Program's remaining statutory capacity, net of the Board's $3.8 billion reserve, was $17.8 billion at the end of fiscal year 2013.
