R

rebate requirement, (See “arbitrage rebate”)

recordkeeping and retention (See “bond funds management”)

redemption

• Redemption
• i.4.2.7 Decision #7 – Evaluate municipal market opportunities to use debt financing
• 2.1 Overview
  Factors determining structure, including issuer, term, source of repayment, and debt limits.
• 2.3.1 Redemption or Prepayment
  Use of a redemption or prepayment of principal to address risk or investor interest
• 4.12 Refunding Bonds
  How the Tax Code differentiates advance and current refundings.
• 5.4.2 Underwriting Fees and Expenses
• B.1.3.1.1 Process for Approval of Local School District GO Bonds
• B.1.3.1.2 GO Bond Structures

• extraordinary redemption
  • 2.3.1.2 Extraordinary Redemption
    Extraordinary redemption of principal
• mandatory redemption
  • 2.3.1.1 Mandatory Redemption
    Mandatory redemption of principal
  • 2.4.8.1 Events of Default
    Different types of defaults
• optional redemption
  • 2.3.1.3 Optional Redemption
    Optional redemption of principal
  • 3.7.6 Refunding Bonds
    Refunding obligations are any municipal debt obligations used to pay principal, interest and premium on other municipal debt.
  • B.1.5.3 Refunding Bonds
• redemption premium
  • Redemption Premium
  • 2.3.1.3 Optional Redemption
    Optional redemption of principal
  • 3.3.7.1 Assessment Bonds
    Local governments issue assessment bonds to pay for public infrastructure that confers a special benefit upon real property and are payable from assessments imposed on the real property.
  • 3.7.6 Refunding Bonds
    Refunding obligations are any municipal debt obligations used to pay principal, interest and premium on other municipal debt.

redevelopment agency

• 3.3.7.3 Redevelopment Agencies
  Redevelopment agencies were dissolved in 2012. The remaining successor agencies are charged with winding down the administration of the redevelopment agencies, which in some cases includes issuance of refunding bonds.
• 3.3.7.4 Enhanced Infrastructure Financing Districts
  Enhanced infrastructure financing districts (EIFDs) build upon the existing infrastructure finance district law to finance public works.
• Figure 7-1 Reports that Debt Issuers Must Submit to CDIAC
• C.1.1 State and Local Organizations

redevelopment bonds

• 3.3.7.3 Redevelopment Agencies
  Redevelopment agencies were dissolved in 2012. The remaining successor agencies are charged with winding down the administration of the redevelopment agencies, which in some cases includes issuance of refunding bonds.
• 4.7.1.6 Qualified Redevelopment Bonds
  A category of private activity bond

referendum power

• Referendum Power
• 1.6 The Initiative and Referendum Powers
  The ability of the voters to effect changes to the State Constitution through Initiative or Referendum.
• 1.6.2 Referendum Power and its Impact on Debt
• A.1 California Consitution Provisions Relating to Local Public Agency Debt

• impact on debt
  • 1.6.2 Referendum Power and its Impact on Debt

refunding bonds

• Refunding
• i.4.1.2 Issuance Phase
• i.4.5.4 Requirement #4 – Adhere to procedural and other rules
• i.4.6 What Financing Options are Available
• i.5.1.1 Debt Management Policies
• 1.1.2 General Bond Statutes
  Statutory authorities broadly applicable to public agencies.
• 3.3.1 Local Agency General Obligation Bonds
  General obligation bonds (GO bonds) issued by California local government entities are payable from unlimited ad valorem taxes on real property
• 3.3.6.1 Public Enterprise Revenue Bonds
• 3.3.7.3 Redevelopment Agencies
  Redevelopment agencies were dissolved in 2012. The remaining successor agencies are charged with winding down the administration of the redevelopment agencies, which in some cases includes issuance of refunding bonds.
• 3.7.6 Refunding Bonds
  Refunding obligations are any municipal debt obligations used to pay principal, interest and premium on other municipal debt.
• 4.4.1 Issue Sizing and Term
  Limits on issue size and term pursuant to the Tax Code.
• 4.8.2.1 Categories of Proceeds
• 4.9.1.3 18-Month Expenditure Exception
  Exception to arbitrage rebate requirements in Tax Code.
• 4.9.1.4 2-Year Expenditure Exception
  Exception to arbitrage rebate requirements in Tax Code.
• 4.12 Refunding Bonds
  How the Tax Code differentiates advance and current refundings.
• 5.4.1 Direct Costs of Issuance
• 5.4.2 Underwriting Fees and Expenses
• Figure 7-1 Reports that Debt Issuers Must Submit to CDIAC
• 7.1.2 Report of Final Sale
• 8.3.6 Recordkeeping and Retention
• 8.5.4 Managing Disclosure Risk
  Approaches to managing the risk improper disclosure.
• 9.1 A Team Approach to Investing Bond Funds
  Designing and implementing an investment strategy that maximizes earnings, while ensuring the safety and liquidity of invested funds and complying with federal tax law, is an important component of minimizing overall, or “net,” borrowing costs.
• A.6 General Bond Statutes
• B.1.3.1.1 Process for Approval of Local School District GO Bonds
• B.1.5.3 Refunding Bonds

• advance refunding
  • Advance Refunding
  • i.4.5.4 Requirement #4 – Adhere to procedural and other rules
  • 3.7.6 Refunding Bonds
    Refunding obligations are any municipal debt obligations used to pay principal, interest and premium on other municipal debt.
  • 4.12 Refunding Bonds
    How the Tax Code differentiates advance and current refundings.
  • B.1.5.3 Refunding Bonds
• current refunding
  • Current Refunding
  • i.4.5.4 Requirement #4 – Adhere to procedural and other rules
  • 3.7.6 Refunding Bonds
    Refunding obligations are any municipal debt obligations used to pay principal, interest and premium on other municipal debt.
  • 4.7.2.2 TEFRA Public Requirements
    Requirements of private activity bonds
  • 4.9.1.2 6-month Expenditure Exception
    Exception to arbitrage rebate requirements in Tax Code.
  • 4.12 Refunding Bonds
    How the Tax Code differentiates advance and current refundings.
  • B.1.5.3 Refunding Bonds

refunding escrows

• 3.7.6 Refunding Bonds
  Refunding obligations are any municipal debt obligations used to pay principal, interest and premium on other municipal debt.
• 9.2.5 Refunding Escrow Funds
  Types of bond funds that may be invested by the issuer.
• 9.5.2 Investment Considerations
  Issuer considerations regarding investment of bond funds.

Registered Public Obligations Act

• 1.1.2 General Bond Statutes
  Statutory authorities broadly applicable to public agencies.

reimbursement of prior expenditures

• 4.4.5 Reimbursement of Prior Expenditures
  Reimbursement of Prior Expenditures pursuant to the Tax Code.

remarketing and purchase

• Remarket
• 3.4.2.2 Tender or Demand Obligations
  Long-term obligations that achieve short-term interest rates by offering a “tender” or “put” feature.

remarketing agent

• Remarketing Agent
• i.4.1.3 Post-Issuance Phase
• Figure 2-1 Basic Cash Flow for a Variable-Rate Demand Obligation or “VRDO”
• 2.4.9 Fiduciary Rights and Duties
  The fiduciary provisions in bond documents set forth the qualification requirements for fiduciaries and the terms of their appointment.
• 3.4.2.2 Tender or Demand Obligations
  Long-term obligations that achieve short-term interest rates by offering a “tender” or “put” feature.

renewal risk

• 2.2.2.3 Variable-Rate Debt

Request for Qualifications (RFQ)

• Request for Proposal (RFP)
• 5.3 Negotiated Public Offerings
  The sale of debt using a negotiated approach to pricing.

resolution

• Bond Resolution
• Inducement Resolution
• i.4.4 Additional Legal Requirements – Internal Boards, Reporting to CDIAC, and Voter Approval
• 2.3 Structural Factors Addressing Risk and Investor Interests
  Ways the structure of a debt obligation may address risk and investor interests.
• 4.4.5 Reimbursement of Prior Expenditures
  Reimbursement of Prior Expenditures pursuant to the Tax Code.
• A.6 General Bond Statutes

• authorizing/bond
  • i.4.4 Additional Legal Requirements – Internal Boards, Reporting to CDIAC, and Voter Approval
• inducement/reimbursement
  • 2.3 Structural Factors Addressing Risk and Investor Interests
    Ways the structure of a debt obligation may address risk and investor interests.
  • 4.4.5 Reimbursement of Prior Expenditures
    Reimbursement of Prior Expenditures pursuant to the Tax Code.

revenue bonds

• Revenues/Gross Revenues/Net Revenues
• i.4.3 Steps Public Agencies Must Take to Use Debt Financing
• 1.3.3 Revenue Bonds
  Debt obligation structured to comply with the Special Fund exception to the Constitutional debt limit.
• 3.1.4 Unique Public Agency Financings that Address Legal Constraints or Public Policy Issues
  California public finance professionals have structured some types of debt to address special legal constraints.
• 3.3.6.1 Public Enterprise Revenue Bonds
• 3.3.6.2 Public Enterprise Revenue Installment Sale Agreements
• 3.6.4 Joint Powers Agency or Authority (JPA) Bonds and Other Issuances
  Due to the extensive bond issuance authority afforded JPAs under government code, JPAs are a common vehicle for issuing bonds that are backed by either a lease or installment sale agreement.
• Figure 3-6 Marks-Roos Large Scale Pool
• Figure 3-7 Marks-Roos Captive Pool
• 3.7.7 Pool Bonds
  Pool bonds are bonds issued to purchase the underlying bonds issued by pool members. TRANS are an example of a pool bond.
• Figure 7-1 Reports that Debt Issuers Must Submit to CDIAC
• 7.1.2 Report of Final Sale
• Appendix A. Legal References
  Index and links to existing laws concerning the financial operations of California public agencies.
• A.4 Joint Powers Agencies/Authorities
• A.5 Financing Tools Contained in Statute
• Appendix C. Additional Sources of Information
  Resources and reference documents relevant to issuance and administration of debt obligations.

• conduit revenue bonds
  • Conduit Financing
  • Conduit Issuer
  • i.5.2.3 Conduit Issuer Reporting
  • 3.3.9 Conduit Revenue Bonds
    “Conduit financings” involve bonds issued by governmental entities to finance projects for nongovernmental borrowers.
  • Appendix A. Legal References
    Index and links to existing laws concerning the financial operations of California public agencies.
• lease revenue
  • 1.3.1 Lease Revenue Bonds and Certificates of Participation
    Debt obligation structured to comply with the Lease exception to the Constitutional debt limit.
  • 3.1.4 Unique Public Agency Financings that Address Legal Constraints or Public Policy Issues
    California public finance professionals have structured some types of debt to address special legal constraints.
  • 3.3.2.1 Lease Revenue Bonds and Certificates of Participation
  • 3.9.2 State Public Works Board Lease Revenue Bonds
    The California State Public Works Board issues lease revenue bonds to finance capital improvement for state agencies.
  • Appendix A. Legal References
    Index and links to existing laws concerning the financial operations of California public agencies.
• public enterprise
  • Figure 1-1 Public Agency Revenue Sources by Category
  • 3.3.6.1 Public Enterprise Revenue Bonds
  • Figure 7-1 Reports that Debt Issuers Must Submit to CDIAC
  • additional bonds test(ABT)
    • additional bonds test
    • 3.3.6.1 Public Enterprise Revenue Bonds
• sales tax
  • 3.3 Types of Debt Obligations Organized by Security and Source of Payment
  • 3.3.3 Sales Tax Revenue Bonds
    Debt obligations that are payable from and secured by revenues from the imposition of a sales and use tax, or a transaction and use tax, on retail transactions
  • Appendix A. Legal References
    Index and links to existing laws concerning the financial operations of California public agencies.
• single-family mortgage
  • 3.3.8 Single-Family Mortgage Revenue Bonds
    Public agencies issue single-family mortgage revenue bonds to assist homeownership.
  • 4.7.1.3 Single-Family Mortgage Revenue Bonds
    A category of private activity bond

risks associated with debt

• 2.2.2.3 Variable-Rate Debt
• 2.3.3 Interest Rate Swaps and Synthetic Structures
  Changing the substantive financial terms of a debt from a fixed-rate obligation to a variable-rate obligation

risk premium

• 5.2.2 Disadvantages of a Competitive Sale
• 5.3.1 Advantages of a Negotiated Public Offering
• 5.4.2 Underwriting Fees and Expenses