3.1.4 Unique Public Agency Financings that Address Legal Constraints or Public Policy Issues

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. These include lease revenue bonds and certificates of participation (COPs), both of which are structured to allow public agencies to use debt financing without violating state constitutional debt limits or to address a lack of statutory authorization to issue debt obligations.