DALLAS — School districts across Texas have had billions of dollars of bonds approved in the past few elections cycles, but now that the state has suspended its triple-A rated school bond guarantee program, districts need to acquire private insurance or rely on underlying bond ratings when bringing debt to market.

Earlier this month, Texas Education Commissioner Robert Scott suspended the Permanent School Fund backing until at least September, citing the declining value of the fund “to the point that outstanding guarantees exceed capacity under the federal regulations.”

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