DALLAS -- A recent Texas court ruling on a school finance reform law could significantly boost the state's role in school construction and other capital improvement funding if the law and the subsequent ruling are not overturned by the Texas Supreme Court on appeal, political and bond industry sources said.

"Now all school bonds are local obligations. In the future, we will have no share those obligations either by direct state aid or a state aid formula," said Wardaleen Belvin, special assistant to Lieut. Gov. Bob Bullock. "It means we would need additional money."

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