| (a) A state agency or political subdivision of this
state must file a report on state lending and credit support programs
in electronic format, and in a manner directed by the Board, with
the bond finance office. Reports shall be submitted in electronic
format no later than September 15 of each even-numbered year for the
prior two fiscal year periods ending August 31.
(b) For each lending program, the report shall include
but is not limited to:
(1) Program name;
(2) Detailed description of the program;
(3) Number of loans outstanding separated by program;
(4) Policies and guidelines for all lending programs
including policies and procedures in place for each program to mitigate
the risk of future default in the program;
(5) Citation to the law authorizing the program;
(6) Total amount of state money lent through the lending
program;
(7) Total amount of debt supported by the lending program;
(8) Total dollar amount of outstanding loans separated
by program;
(9) Reasonable estimate of the costs of default associated
with the program, computed in accordance with private-sector accounting
standards for credit or other losses. The estimate shall include all
assumptions, factors, formulas, and analysis used to calculate the
cost of default;
(10) Current default rate of program;
(11) Highest default rate experienced in program;
(12) Total amount of principal and interest payments
received from borrowers;
(13) Total amount of principal and interest payments
in default;
(14) Assets, if any, pledged as collateral to secure
existing loans;
(15) For each of the items described in paragraphs
(6) through (14) of this subsection provide total amount broken down
by each entity in the lending structure, if the public or private
entity receiving funds also lends the money to another public entity
or private entity. Provide the total amounts for each entity; and
(16) Any additional information required by the Board.
(c) For each credit support program, the report shall
include but is not limited to:
(1) Program name;
(2) Detailed description of the program;
(3) Policies and guidelines for all credit support
programs including policies and procedures in place for each program
to mitigate the risk of future default in the programs;
(4) Citation to the law authorizing the program;
(5) Total amount of state money lent through or debt
supported by the program, as applicable;
(6) Total amount of credit support for interest or
principal payments;
(7) Reasonable estimate of the costs of default associated
with the program, computed in accordance with private-sector accounting
standards for credit or other losses. The estimate shall include all
assumptions, factors, formulas, and analysis used to calculate the
cost of default;
(8) Current default rate of program;
(9) Highest default rate experienced in program;
(10) For each of the items described in paragraphs
(5) through (9) of this subsection provide total amounts broken down
for each public or private entity; and
(11) Any additional information required by the Board.
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