Helpful resources for
California school and community college district officials.


Educational Bond Videos

How Municipal Bonds are Sold in the Capital Markets

How Bonds are Sold

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.

The Municipal Bond Market Post Tax Cuts and Jobs Act

The Market Post Tax Cuts and Jobs Act

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.

Useful Links

California Debt and Investment Advisory Commission

The California Debt and Investment Advisory Commission (“CDIAC”) provides education and information related to California municipal bond issuances.

Coalition for Adequate School Housing

The Coalition for Adequate School Housing (“CASH”) provides education and advocacy for state and local funding of California educational facilities.

Association of Chief Business Officials

The Association of Chief Business Officials (“ACBO”) provides California community college business officials with professional development and updates on issues affecting community colleges.

California School Boards Association

The California School Boards Association (“CSBA”) provides educational opportunities for board members and administrators and advocates for important educational issues.

California Association of School Business Officials

The California Association of School Business Officials (“CASBO”) provides professional development and business best practices for California K-12 business officials.

The Bond Buyer

The Bond Buyer is an industry news source for the municipal finance community.

Bloomberg U.S. Interest Rates

Interest rate benchmark data as provided by Bloomberg, a financial information company.

Electronic Municipal Market Access

Electronic Municipal Market Access (“EMMA”) is an information repository for municipal bonds providing security information, official statements and continuing disclosure documents.

Moody's Investors Service

Moody’s Investors Service (“Moody’s”) is one of the three major ratings agencies for municipal bonds and provides credit rating analysis and research.

Standard & Poor's Global Ratings

Standard & Poor’s Global Ratings (“S&P”) is one of the three major ratings agencies for municipal bonds and provides credit rating analysis and research.

Fitch Ratings

Fitch Ratings (“Fitch”) is one of the three major ratings agencies for municipal bonds and provides credit rating analysis and research.