(a) Not later than January 1 of each odd-numbered year, the board shall prepare and
submit to the governor, lieutenant governor, and speaker of the house a report relating
to the financial impact of the bond insurance program during the immediately preceding
(b) The report shall include:
(1) the total amount of insurance coverage authorized by the board during the biennium;
(2) the number of insurance coverage authorizations granted by the board;
(3) a list of the issuers receiving insurance coverage from the board during the biennium
and the amount of insurance coverage provided to each issuer;
(4) an analysis of the marketability of the bonds of the issuers receiving insurance
coverage during the biennium and the effect that the insurance coverage had on interest
rates and bond ratings for those issuers;
(5) an analysis of the marketability of bonds issued by the state and its agencies
during the biennium and the effect that the bond insurance program had on interest
rates on state bonds and the state's bond rating;
(6) an analysis of the impact on the commercial bond market and bond interest rates
generally during the biennium as a result of the implementation of the bond insurance
program with particular emphasis on the impact on bonds of political subdivisions
and water supply corporations that did not participate in the program;
(7) recommendations for changes in the bond issuance program that will favorably affect
marketability of state bonds and issuer's bonds, bond ratings, and interest rates;
(8) any other information, analyses, and recommendations that the board considers
necessary to give the governor and the legislature a complete understanding of the
financial impact of the bond insurance program.
(c) The state comptroller on request shall provide to the board all information and
assistance necessary for the board to prepare this report.
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