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February 07, 2001
DART to Adopt New SEC Annual Disclosure Standards
In conjunction with its Board's approval of DART's $2.9 billion debt program, Dallas Area Rapid Transit (DART) announced today that it will adopt the Security and Exchange Commission's recommended policy of annual disclosures with quarterly updates.
The Master Disclosure Statement will also be updated each time DART issues debt or whenever a material event occurs. DART will be the first governmental agency in Texas to adopt this standard. DART's bond counsel, Vinson and Elkins, recommended that DART adopt these higher standards.
"Investors deserve to have this level of disclosure information, and we are committed to providing it. DART has always viewed itself as a leader with respect to financial and business disclosure, and this is simply a continuation of our normal disclosure processes," said DART's Chief Financial Officer, Chris Poinsatte.
DART will post its Master Disclosure Statements, the updates, and its debt documents to its web page, www.DART.org, so investors can easily obtain the most current information about DART. Investors can also obtain a printed copy of DART's disclosure documents by contacting DART Treasurer, Nate Hallett, at 214-749-3021.
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