Most issuers of publicly offered municipal debt are now aware that the U.S. Securities and Exchange Commission (“SEC”) amended Rule 15c2-12 (effective February 27, 2019) to expand the list of reportable events (increasing from 14 to 16).
The NHA Advisors Team is excited to announce that Leslie Bloom has joined the firm as a Vice President.
Our latest NHAlert on the Everchanging Landscape of Pension Costs discusses our approach (and key questions to ask) to evaluating pension bonds and the re-investment/market timing risks associated with them.
In 2016, NHA worked intensively with the City of Corcoran’s finance staff and the City Manager to undertake a comprehensive “Fiscal Sustainability Report,” which laid the groundwork for attaining ballot measure support from residents and council members in order to approve a 1% increase in sales tax to help bolster the city’s struggling operations.
NHA helped the City of Berkley build a brand new, $45million modern, and “green” downtown parking garage that financed through a combination of cash reserves and parking revenue bonds.
In December 2016, CalPERS (PERS) announced it will lower its discount rate (expected earnings rate) from 7.50% to 7.00%, phasing the change in over a three year period. This NHAlert highlights details on this recent change, including how the reduction will be implemented, the estimated impacts to public agencies, and NHA’s recommended next steps for addressing these impacts.
Following extensive discussions with leading pension experts and CalPERS representatives, it has been revealed that the implied savings from issuing side fund pension obligation bonds (“POBs”) are no longer guaranteed.
Following extensive discussions with leading pension experts and CalPERS representatives, it has been revealed that the implied savings from issuing side fund pension obligation bonds (“POBs”) are no longer guaranteed.
