DALLAS - The Texas Public Finance Authority last week named Dwight Burns executive director week, succeeding Kimberly Edwards, who left on Nov. 30 after holding the post for 12 years.
Burns comes to the state agency in Austin from Moody's Investors Service in Dallas, where he was a vice president and senior analyst.
"I'm really looking forward to the opportunity to work with the authority, which is such a significant conduit issuer here in Texas," Burns said. "There's always been a part of me that wanted to get back to the public sector and this position gives me that chance."
The TPFA, which issues bonds on behalf of numerous state entities, mostly to fund acquisition or construction of buildings, was created in 1984 to replace the Texas Public Building Authority.
The authority's most recent issue was $23 million of revenue financing system bonds sold on behalf of Stephen F. Austin University in January.
While an exact start date has yet to be determined, Burns anticipates starting early next month and expects to attend the May board meeting.
Prior to working at Moody's, Burns was a financial adviser with Southwest Securities Inc. in both Dallas and Austin. He completed his undergraduate degree in government at the University of Texas in Austin and received a master's degree from the university's LBJ School of Public Affairs.
Burns' departure from Moody's comes as the ratings agency is expanding its Dallas office, expecting to add up to five analysts to enhance surveillance of already issued debt.
Also last week, Gov. Rick Perry named Gary E. Wood chairman of the TPFA, replacing H.L. Bert Mijares, whose term expired Feb. 1. Rodney K. Moore was appointed a director on the board.
Including the chairman, the board has seven directors. The Texas Senate must confirm the appointments of Wood and Moore and is expected to do so before the Legislature adjourns in late May. The terms expire Feb. 1, 2015.
Judith Porras, who had served as interim executive director since Edwards left, said the authority doesn't have any large bond issues on the upcoming calendar, but may bring $25 million to market soon to fund parks and wildlife programs.
"It's what we have left over ... the last of the authorization of this biennium," Porras said.
