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The Texas Water Development Board chairman Bech Bruun sits down with markets reporter Aaron Weitzman to discuss a gambit of topics, including droughts in Texas and how those disastrous times have turned into learning experiences. They also discuss the history of the TWDB and its various programs as well as what it's like not only being an issuer in today's low interest rate environment but also what it's like being an issuer from Texas.

The orders provide some insight into what the Securities and Exchange Commission considers to be a material false or misleading statement in an offering document.

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