Keygent Vice President, Chris Hiatt, was recently quoted in an article by the Beverly Hills Courier titled “BHUSD Sells $160 Million in Measure BH Bonds.” Keygent advised Beverly Hills Unified School District (the “District”) on its first general obligation bond financing from its Measure BH authorization approved by District voters on June 5, 2018.Read More
Municipal bonds are investments purchased by all types of investors such as “mom and pop” retail, banks, money managers, investment advisors, hedge funds, insurance companies, and even
governmental agencies. Municipal bonds are typically sold under one of three sale methodologies: competitive, negotiated and private sales.
Many municipalities had utilized tax-exempt advanced refundings for debt service savings through interest cost reductions and debt restructuring. The loss of this valuable tool is a blow to the many agencies who acted as good stewards of their limited repayment resources. The beneficiaries of these savings ranged from taxpayers to operating budgets to obligors of the debt. While districts may still advance refund bonds, they now have to do so with taxable bonds, and taxable bonds are more expensive than tax-exempt bonds.Read More
California K-14 districts can elect to have their bonds approved under proposition 39 or Proposition 46. Selecting Proposition 39 or Proposition 46 for a bond election could be a political, facility-related, financial, or timing decision, among others.Read More
While there are many types of municipal bonds such as GO bonds and revenue bonds, these bonds are generally issued as either current interest bonds or capital appreciation bonds. A common misconception is that current interest bonds pay both regular interest and regular principal. This is not true. Multiple current interest bond maturities though could be structured such that principal is amortized more regularly.Read More