Why Do Public Agencies Use Debt Financing
Gives an overview of the powers given to public agencies by the constitution, why public agencies use debt financing, and when it is appropriate to issue debt. Other topics include the three Ws of project planning and making decisions within the context of economic conditions and past financial and management actions.
- 15 Minutes
What You Need to Know Before Issuing Debt
Discusses the relationship between long-term planning and short-term decision making, the role and responsibilities of elected officials in capital finance, and the risks of short-term decision-making. Other topics include key principles of capital finance that create long-term budget impacts and the value of strategic financial management.
- 13 Minutes
Strategy Drives Structure
Covers structuring debt that is consistent with the agency’s authority to borrow and raise revenue for repayment and the taxpayer equity implications of common debt structures and sources of repayment. Other topics include the pros and cons of voter-approval vs. approval by the governing body and considerations for the appropriate use of proceeds, including tax and securities law.
- 25 Minutes
The Use of Debt Policies to Manage Risk
Discusses the various interlocking financial, legal, and political implications and risks of debt financing. Other topics include considerations of how debt will affect the organization and its ability to fulfill its functions and how a well-developed debt policy is instrumental in assessing and managing risks on the path to a successful debt issuance.
- 22 Minutes
It Takes a Team: The Role of External Professionals in a Successful Issuance
Explores the functions, fiduciary responsibilities, interests, and compensation of external finance team members and discusses their roles in the context of the typical debt issuance process. Other topics include the elected official’s role and responsibilities during the issuance process and key members of the agency’s internal finance team.
- 20 Minutes
Marketing and Structuring Strategiesfor a Win-Win Debt Issuance
Provides an overview of the market for municipal debt and discusses the alignment of debt marketing and structuring strategies with market preferences to achieve desired financing objectives. Other topics include the effects of agency governance practices on marketability and investor preferences.
- 20 Minutes
Implications and Documentation of Your Long-Term Debt Commitments
Discusses the high-level policy implications of the most frequently issued types of long-term debt and summarizes the fundamental documentation used to formalize the commitments made through debt issuance. Other topics include the elected official’s role and responsibility in documenting the issuance transaction.
- 17 Minutes
Becoming a Model Borrower
Explores post-issuance responsibilities with a focus on the disclosure, communication, internal control, and administrative practices that garner a strong borrower reputation and enable an agency to achieve its long-term financing goals.
- 19 Minutes
