DALLAS – Texas Senate Finance Committee Chairman Tommy Williams is proposing that the state use a vacant private prison that defaulted on its debt to economize on incarceration costs.

The prison in Jones County defaulted $35.8 million of revenue bonds shortly after its completion in 2010.  The jail, built to house inmates under a contract with Texas, never opened after the state cancelled the contract.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.