ERIC Number: ED282302
Record Type: RIE
Publication Date: 1986
Reference Count: 0
Capital Outlay and Bonding.
Wood, R. Craig
This chapter of "Principles of School Business Management" provides a generic overview of the major tasks associated with financing a school district's large capital programs. The chapter opens with a brief historical review of the limited provisions made for capital outlay prior to the 1960s and of the trends in financing in recent decades. The chapter then examines specific methods used for financing capital projects, including municipal bonds, sinking funds, the use of current revenues, and the formation of holding corporations. Factors affecting the issuance of bonds are considered next, including bond ratings and the need for legal and financial advice. The chapter next outlines the prospectus' statements concerning the purpose of the issue; bond dates, types, denominations, and maturities; the paying agent; interest payment dates and rates; delivery deadlines; legal opinion; the bidding and award process; district financial information; future financing; pending litigation; and general district facts. The chapter concludes with discussion of the actual sale of issue, the registration of bonds, the investment of proceeds from the sale, advanced refunding, and bond insurance. Information that must be provided for the issuance of ratings is listed and 21 footnotes citing relevant sources are provided. (PGD)
Publication Type: Guides - Classroom - Learner; Information Analyses
Education Level: N/A
Audience: Administrators; Students; Practitioners
Authoring Institution: Association of School Business Officials International, Reston, VA.
Note: Chapter 21 of "Principles of School Business Management" (EA 019 320).