In 1984, the Texas Public Finance Authority was started with one purpose: to sell state-backed bonds to buy office space in Austin. Eight years later, after surviving one attempt to abolish it, the agency has become the state's single largest issuer of debt.

Today, the agency sells bonds for everything from colleges to prisons to the state's massive workers' compensation program. As the agency's mission has evolved through three administrations, one constant has been its executive director, Glen Hartman. That will change this week when Mr. Hartman retires as the only boss the agency has ever had.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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