2015 Debt Issuance and Public Investment Webinars, Seminars and Conferences
Rethinking Development Finance: Financing Development in a Post-Redevelopment World
In collaboration with UC Davis Extension
November 17, 2015
This seminar examines the current programs and strategies available for development finance in post-redevelopment California. It will address how communities can achieve the goals of redevelopment with available authorities and financing opportunities, as well as discuss promising new strategies.
- Agenda
- Presentations
- Recommended Readings
- Assembly Bill No. 2, Alejo, Community Revitalization Authority 2015-2016
- CA Assembly Bill No. 313, Atkins, Toni, Enhanced Infrastructure Financing Districts, 2015-2016
- CA Senate Bill No. 107, Committee on Budget and Fiscal Review. Local government, 2015-2016
- CA Senate Bill No. 628, Beall, Jim, Enhanced Infrastructure Financing Districts, 2013-2014
- Webster, Keeley, Redevelopment Inches Back in California, The Bond Buyer, September 23, 2015
- Opportunities to Use Assessment Districts to Finance Facilities and Services in California Today, CDIAC No. 15.07, July 2015
- Questions For Public Agencies Considering Public-Private Partnerships, CDIAC No. 08.08, August 2008
- Public–Private Partnerships: A Guide To Selecting A Private Partner, CDIAC No. 08.02, March 2008
- Privatization vs. Public-Private Partnerships: A Comparative Analysis, Issue Brief CDIAC No. 07.04, August 2007
CDIAC’s 14th Annual Pre-Conference, Electronic Trading: Market Efficiency and Why It Matters to Issuers, at The Bond Buyer’s 25th Annual California Public Finance Conference
October 21, 2015
San Francisco Marriott Marquis, San Francisco, CA
The municipal securities market is far less regulated and transparent than other segments of the nation's capital markets. Trades occur in a decentralized, over the counter fashion to a much higher extent than in corporate securities markets. Industry regulators, including the Securities and Exchange Commission (SEC), have expressed concern that structural deficiencies render the market inefficient and unfair to issuers as well as to investors. Furthermore, illiquid markets present unique challenges for establishing accurate bond pricing in both the secondary and primary markets. This pre-conference program examines the opportunities for market participants to benefit from advances in technology and the market, in particular the benefits derived from heightened information on pricing and transaction costs offered by electronic trading. It also considers the role of existing alternative trading systems (ATS) in operation today and the challenges they face in expanding transparency, efficiency, and fairness to the entire municipal market.
Disclosure Policies: What Every Issuer Should Consider
October 14, 2015
10:00 AM - 11:45 AM PDT
Register for Replay Through Education Portal
Note: The complete program including, replays, transcripts, and slides are available in the CDIAC Education Portal. Registration required but materials are free.
The Securities and Exchange Commission (SEC) had stressed the importance of adopting written disclosure policies and procedures for issuers to ensure the accurate and timely communication of material information to the municipal market. More recently, various SEC enforcement actions coming out of the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative have imposed written disclosure policies and associated training as an element of the settlements. The results of the SEC's review of issuers' disclosure practices under the MCDC Initiative are expected to be released in the near future. In an effort to provide guidance to the market, the National Association of Bond Lawyers has released a report titled Crafting Disclosure Policies, which explores the benefits and practical considerations in drafting written policies and procedures. This webinar will provide a detailed discussion of the report as well as the key elements to address in the policy development process.
- Agenda
- Speaker Biographies
- Presentation
- Recommended Readings
The Public Investment Portfolio: A Step-by-Step Examination of Public Investment Securities
This CDIAC investment webinar series is designed to guide public agencies in the development and management of an investment portfolio. Public fund management in California allows for the investment officer to select instruments set forth in Government Code sections 16429.1, 53601, 53601.6, 53601.7, 53601.8, 53635, 53635.2, 53638 and 53684. Each investment instrument comes with a differing level of risk, requiring public investors to undertake a full assessment of each. To help public investment officials in this process, CDIAC intends to provide a series of webinars that focus on major investment categories and the investment options within each. These webinars will examine each instrument type, review the statutory authority, and analyze how the investment’s features may or may not achieve a local agency’s investment policy objectives.
Note: This series is a companion to CDIAC’s Public Investment Primer and Local Agency Investment Guidelines.
To register for multiple webinars, use the shopping cart feature through CDIAC’s online registration system.
- Cost: FREE
Webinar Dates
Webinar 1: Treasuries - May 21
Webinar 2: Agencies - June 17
Webinar 3: Municipals - June 24
Webinar 4: Money Markets
Part 1: Banker’s Acceptances, Commercial Paper - July 8
Part 2: Certificates of Deposit, Deposit Placement Services and Collateralized Bank Deposits - Postponed to September 9
Part 3: Repurchase Agreements, Reverse Repos and Securities Lending - Aug 5
Webinar 5: Corporates - Aug 19
Webinar 6: Asset-Backed Securities, Mortgage-Backed Securities, Collateralized Mortgage Obligations - Sept 2
Webinar 7: Mutual Funds, Money Market Mutual Funds and Local Government Pooled Investments - Sept 16
Recommended Readings
- California Public Fund Investment Primer, CDIAC No.09-02
- Local Agency Investment Guidelines: Update for 2015, CDIAC No.15.02
- Managing Market Risk in Investment Portfolios, Government Finance Officers Association (GFOA), October 2009
- Using Commercial Paper in Investment Portfolios, GFOA, October 2009
- Establishing a Policy for Repurchase Agreements, GFOA, October 2010
- Monitoring the Value of Securities in Repurchase Agreements, GFOA, February 2006
- Securities Lending Agreements Issue Brief, CDIAC No.05-05
- Local Government Investment Pools, GFOA, October 2008
- Presenting Securities Lending Transactions in Financial Statements, GFOA, January 1998
- Managing Interest Rate Risk in a Fixed Income Portfolio, CDIAC No. 08-11
- Duration Basics, CDIAC No. 06-10
- Principal Protected Notes, CDIAC No. 13-10
- A Primer on Floating-Rate Notes, Fannie Mae, March/April 2011
- Local Agencies' Ability to Buy Their Own Debt - A Digest, CDIAC NO. 13-03
- Demystifying Supranationals, The World Bank Treasury, November 2014
- Assessment of Local Government Investment Pools: A Survey of California County Pools, CDIAC, January 2000
Disclaimer: The information presented in this webinar series is intended to assist public investment professionals. The content presented is informational and does not constitute investment advice or the recommendation to invest in any or all of the investment instruments discussed. When choosing an investment instrument for a public portfolio, the whole portfolio, investment policy, suitability, financial needs of the public agency and any associated risks should be considered. In addition, the information in each webinar is set to reflect the period in time in which it is presented and any changes that may affect any of the instruments discussed, such as legislation, reform or market conditions, or that may alter the relevancy of any of these webinars, will not be reflective in the post archival recordings. In such instances, viewers should be advised to use the information only as a reference as no updates to the recordings will be made. Please consult the California Debt and Investment Advisory Commission’s publication, Local Agency Investment Guidelines for any interpretive updates.
Land-Secured Financing Current Topics and Practices
May 1, 2015
Hilton Concord, Concord, CA
Community facilities districts (CFDs) and assessment districts (ADs) continue to provide public agencies resources to finance public facilities and services. They have filled the void in public financing for these purposes left by Proposition 13. This intermediate course provides public officials with an understanding of these financial structures and an update on current topics and practices related to their use and administration.
- Agenda
- Speaker Biographies
- Seminar Materials
- Recommended Readings
- Disclosure Guidelines for Land-Based Securities, California Debt Advisory Commission (CDAC), September 1996
- Guidelines for Mello-Roos Financing, CDAC, October 1991
- Mello-Roos Community Facilities Districts Yearly Fiscal Status Report (2012), CDIAC No. 13.07
- Mello-Roos Financing in California, CDAC, September 1991
- Proposition 218 Omnibus Implementation Act
- California Government Code Sections 53750-53756
- California Elections Code Section 4000
- CA Constitution Article XIII C
- CA Constitution Article XIII D
- Proposition 218 Implementation Guide, League of California Cities
Municipal Debt Essentials
March 17-19, 2015
Riverside Convention Center, Riverside, CA
Municipal Debt Essentials is a seminar series delivered over three consecutive days. Debt 1: Debt Basics will supply the foundational concepts for issuing debt; Debt 2: Accessing the Market will provide an understanding of the strategic planning that occurs prior to debt issuance; and Debt 3: Debt Administration will explain the fundamental responsibilities of debt administration after bond issuance. The seminar series is designed to build upon concepts from each day. However, participants may choose to take individual courses or the entire series based upon their educational needs.
- Agenda - Debt 1
- Agenda - Debt 2
- Agenda - Debt 3
- Presentation Materials
- Recommended Readings:
- Bond Insurance as a Form of Credit Enhancement in California's Municipal Bond Market, CDIAC, June 2003
- Municipal Market Disclosure: CAFR Filings – A Test of Compliance Among California Issuers, CDIAC, 2011
- California Debt Issuance Primer, California Debt and Investment Advisory Commission, 2006
- Glossary of Municipal Securities Terms, Municipal Securities Rulemaking Board, August 2013
- Report on the Municipal Securities Market, U.S. Securities and Exchange Commission (SEC), July 2012
- Registration of Municipal Advisors Frequently Asked Questions, SEC, May 2014
- An Overview of Local Government General Obligation Bond Issuance Trends (1985-2005), CDIAC, April 2008
- Summary Outline Accompanying CDIAC's Webinar 'Regulatory Update: The Municipal Advisory Rules and Their Effect on Public Investments' Offered on June 23, 2014
- Statement on Making the Municipal Securities Market More Transparent, Liquid, and Fair, U.S. Security and Exchange Commission (SEC), February 2015