HANDBOOK FOR MUNI-BOND ISSUERS
IN TODAY’S HIGHLY STRATIFIED and heavily regulated municipal bond market, nothing can be left to chance. It is imperative that issuers have a working knowledge of the bond market and a solid understanding of all of its rules.
The Handbook for Muni-Bond Issuers provides professionals with succinct guidance on what issuers need to know before beginning the issuance process – choosing a method of sale, getting the right financial advice, disclosure and legal guidelines, and lowering the cost of financing. It includes a detailed discussion of what happens prior to a sale through what to expect after the close.
Author Joe Mysak takes issuers through the process, step-by-step, with smart answers and pragmatic strategies for success in today’s muni-bond market.
This book provides an insider’s perspective on:
♦ Choosing a method of sale
♦ Finding the right financial advisers
♦ What to expect from regulators
♦ Earning a high credit rating
Fresh and clearly written, this excellent primer on issuing municipal bonds, from an industry insider, is a key to the market that no participant should be without.
Praise for
Handbook for Muni-Bond Issuers
by Joe Mysak
“Joe Mysak has written the new bible for municipal bond issuers. The search is over; this book provides clear guidance and smart answers for everyone in the field.”
JAMES B. G. HEARTY
Managing Director of Marketing and Client Services
Relational Investors LLC
“Joe Mysak explains even the most complex subjects with a refreshing simplicity. He maintains his ever-present skepticism about much of what usually turns out to be flimflam in the guise of new products and financial engineering. This is a book for anyone, even investors without specialized financial backgrounds, who needs to understand what all the noise is about in a bond sale.”
FRANK R. HOADLEY
Capital Finance Director
State of Wisconsin
‘Joe Mysak has prepared a “pocket-sized financial adviser” for both large and small municipal bond issuers. The book provides a good mix of timeless as well as currently topical subjects. All recently elected public finance officials should read this book.”
CHRISTIAN McCARTHY
Former Managing Director, Municipal Markets
Merrill Lynch & Co.
”The Handbook for Muni-Bond Issuers is what public finance professionals want to have on their shelves, both a good read and a useful reference. Joe Mysak treats the fundamentals – and the foibles – of the municipal bond market in clear, concise language and takes time to tour some frequently bypassed, but very practical subjects, like winning bond elections and investing bond proceeds.”
JOHN PETERSEN
Senior Consultant
Government Finance Group
“Joe Mysak has once again proven that he’s the conscience of the public finance business.”
F. JOHN WHITE
Chief Executive Officer
Public Financial Management
“Joe Mysak’s book will guide any municipal finance professional through the labyrinth of bond issuance. His user-friendly style bypasses the usual esoteric and technical jargon. Finally, a book of practical solutions for any muni-bond issuer.”
ED ALTER
Utah State Treasurer
THIS BOOK IS AVAILABLE for bulk purchase at special discount. Special editions or chapter reprints can also be customized to specifications. For information, please e-mail Bloomberg Press, [email protected], Attention: Director of Special Markets, or phone 212-617-7966.
© 1998 by Joe Mysak. All rights reserved. Protected under the Berne Convention. No part of this book may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher except in the case of brief quotations embodied in critical articles and reviews. For information, please write: Permissions Department, Bloomberg Press, 731 Lexington Avenue, New York, NY 10022 or send an e-mail to [email protected].
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This publication contains the author’s opinions and is designed to provide accurate and authoritative information. It is sold with the understanding that the author, publisher, and Bloomberg L.P. are not engaged in rendering legal, accounting, investment-planning, or other professional advice. The reader should seek the services of a qualified professional for such advice; the author, publisher, and Bloomberg L.P. cannot be held responsible for any loss incurred as a result of specific investments or planning decisions made by the reader.
ISBN-13: 978-1-57660-023-8
The Library of Congress has cataloged the earlier printing as follows:
Mysak, Joe
Handbook for muni-bond issuers / Joe Mysak.
p. cm. – (Bloomberg professional library)
Includes index.
1. Municipal bonds. I. Title. II. Series.
HG4726.M95 1998
332.63’ 233-dc21 97-52168
