I answer a reader’s question about Bond Anticipation Notes

One of the nice things about WordPress is that it tells you what searches are being used to find your blog.  For whatever reason, I’ve been getting a bunch of searches recently that ask who pays — or would have paid — for the $500 million class 1 Bond Anticipation Notes (BAN) issued to cover windstorm losses in Texas. So, let’s answer that question.

The short answer is that TWIA policyholders would have been obligated to repay the loan, with interest.

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