Construction bond (QSCB) pooled financing webinar
April 6, 2010 - 1:00-3:00 p.m.
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QSCB Pooled financing lowers rates
OSBA is offering a pooled financing program, in partnership with Seattle-Northwest Securities, K&L Gates, Bank of New York and McLiney and Company for districts issuing qualified school construction bonds (QSCB). By pooling bonds, school districts gain access to low interest funds authorized under the federal stimulus program. A webinar will be held on April 6 to explain the program.
The pooled QSCB program will allow districts to maximize the appeal of their offering to investors by increasing the total amount sold and minimize the costs of issuance through economies of scale. The American Recovery and Reinvestment Act of 2009 authorized QSCBs to reduce school district borrowing costs. The steep learning curve associated with these new bonds has limited the number of buyers, particularly for smaller amounts. Several Oregon school districts received QSCB allocations in 2009 and have been unable to find buyers due to small issue size and large upfront financing costs. Allocations for 2010 have been finalized and initial allocations have been made.
The webinar will cover the general mechanics of QSCBs as well as specific details regarding the pooled QSCB program.
Join us on April 6 from 1:00 - 3:00 p.m. to learn more.
If you would like to participate, please RSVP to Tracey Harris, email@example.com or call 503-275-8304.
FlexFund program information.