CDFA Bond Finance Update - February 7, 2017
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CDFA // BNY Mellon Webcast Series: Opportunities and Advancements in Water Finance
February 21, 2017
1:00 PM Eastern

CDFA Online Brownfields Project Marketplace
February 24, 2017
12:00 - 5:00 PM Eastern

Intro Bond Finance WebCourse
March 1 - 2, 2017
Daily: 12:00 - 5:00 PM Eastern

CDFA Brownfields Financing Webinar: Financing Brownfields with Private Activity Bonds (PABs)
March 9, 2017
2:00 PM Eastern

CDFA // BNY Mellon Webcast Series: Exploring the Impact of GASB 77
March, 14, 2017
1:00 PM Eastern

2017 CDFA Pennsylvania Financing Roundtable Webinar
March 22. 2017
1:00 - 3:00 PM Eastern

2017 CDFA Michigan Financing Roundtable Webinar
March 23, 2017
1:00 - 3:00 PM Eastern

CDFA Texas Conference
Dallas, TX
April 5, 2017

Intro Incentives WebCourse
April 5 - 6, 2017
Daily: 12:00 - 5:00 PM Eastern

CDFA // BNY Mellon Webcast Series: Is There a New Markets Tax Credit Surplus?
April 18, 2017
1:00 PM Eastern

CDFA Missouri Conference
St. Louis, MO
April 20, 2017

CDFA South Carolina Conference
Columbia, SC
April 25, 2017

CDFA Illinois Conference
Chicago, IL
May 2, 2017

Intro Tax Increment Finance WebCourse
May 10 - 11, 2017
Daily: 12:00 - 5:00 PM Eastern

CDFA Colorado Conference
Denver, CO
May 16, 2017

CDFA Texas Webinar: Financing Programs to Support Rural Development
May 17. 2017
11:30 AM - 12:30 PM Eastern

CDFA Georgia Conference
Atlanta, GA
June 7, 2017

Intro Food Systems Finance WebCourse
June 7 - 8, 2017
Daily: 12:00 - 5:00 PM Eastern

CDFA Summer School
Minneapolis, MN
August 7 - 11, 2017

Fundamentals of Economic Development Finance Course
Minneapolis, MN
August 7, 2017

Intro Bond Finance Course
Minneapolis, MN
August 8 - 9, 2017

Intro Brownfields Finance Course
Minneapolis, MN
August 8 - 9, 2017

Intro Energy & Water Finance Course
Minneapolis, MN
August 10 - 11, 2017

Intro Revolving Loan Fund Course
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August 10 - 11, 2017

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September 7, 2017

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September 28, 2017

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November 15 - 17, 2017

Bond Finance Update
February 7, 2017
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CDFA Bond Finance Update

Features

CDFA Agenda Includes Pushing for Bond Bills, Supporting Tax Exemption
The Council of Development Finance Agencies this year will work to obtain separate bills that would ease certain tax restrictions for manufacturing bonds and remove water and sewer bonds from the private activity bond volume cap.

JCT: Governmental Bond Revenue Losses at $194.7B Over Five Years
Tax-exempt governmental bonds will result in revenue losses to the federal government of $194.7 billion over the five fiscal years 2016-2020, the Joint Committee on Taxation estimated in a report this week.

Mnuchin Says He'll Work to 'Enhance' PABs for Infrastructure Projects
President Trump's nominee for Treasury Secretary Steven Mnuchin told lawmakers in writing that he plans to "enhance" private activity bonds so that they can be used to encourage more private investment in infrastructure projects.

The Trump Infrastructure Plan: Still Many Questions, But Perhaps Some Insights
Best Best & Krieger LLP gives a summary of comments from Secretary Elaine Chao's confirmation hearing, which addresses some of the questions swirling around the Trump administration infrastructure plan.

New JEDA Bonds Refinance Expansion at Mason Preparatory School in Charleston
Mason Preparatory School is using a $6.93 million bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to refinance costs for a prior construction project and expansion.

The Hidden Risks of P3s
Public-private partnerships are an important part of the infrastructure toolkit, but they can't replace tax-exempt debt in financing public projects.

Pence Touts Big Infrastructure Bill; Poll Finds Tolls Not Supported
Vice President-elect Mike Pence tried to sell to the nation's mayors on the infrastructure plan to be proposed by the new Trump administration, just before a national poll showed there is little support for the tolls on which the plan would rely.

Green Bonds Rise as Tool for Water Infrastructure, Resilience
Environmentally conscious green bonds are a tool more issuers use to finance various means of purifying drinking water and buffering against rising seas. Municipal issuers from transit agencies to small cities and towns have sought to manage water more effectively -- notably after Hurricane Sandy struck in 2012 – with varying degrees of success.

Public Finance 2016 in Review and the Outlook for 2017
Squire Patton Boggs' Public Finance 2016 in Review and the Outlook for 2017 topics include final issue price regulations, proposed political subdivision regulations, general arbitrage, and revenue procedure governing management contracts.

Market Reports

KPM Weekly Rate Update
KPM Financial | Feb. 6 | Bond Finance | Bond Finance\Market Reports

Municipal Market Update
Stern Brothers & Co. | Feb. 6 | Bond Finance | Bond Finance\Market Reports

Municipal Market Snapshot
Hutchinson, Shockey, Erley & Co. | Jan. 27 | Bond Finance | Bond Finance\Market Reports

Upcoming Events
Intro Bond Finance WebCourse
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Making the Case for the High Efficiency of the Tax Exemption — It's in the Numbers
As tax reform takes shape, a key challenge for the municipal market in maintaining full access to the tax exemption stems from a factually flawed methodology utilized by the Joint Committee on Taxation.

Sanctuary Cities Order Foreshadows Turbulence for City Credits
Cities, counties and states are gearing up for a costly battle over billions of dollars in federal funding after President Trump threatened to halt support for those that defy his ban on so-called "sanctuary cities."

IRS: Unspent Proceeds, Refunding Will Not Cause Loss of BABs' Subsidy
Unspent proceeds at the time of a current refunding will not cause Build America Bonds to lose their qualified status for Treasury subsidy payments, the Internal Revenue Service recently found in a recent private letter ruling.

Trump Orders Rapid Review for High-Priority Infrastructure
Trump signed an executive order this week that requires the chairman of the White House Council on Environmental Quality to coordinate "expedited procedures and deadlines for completion of environmental reviews and approvals" for infrastructure projects designated as a high priority by a governor or the head of a federal department or agency.

SEC Approves New Complaint Process for MAs; Update for Dealers
The Securities and Exchange Commission has approved Municipal Securities Rulemaking Board changes to complaint processes for dealers and municipal advisors, saying they are consistent with the MSRB's authority and are not overly burdensome for market participants.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Bond Finance Headlines

Tax Exempt Bonds for Redevelopment in TX Under Review by IRS
The Dallas Morning News | Feb. 3 | Bond Finance | Brownfield Financing | Redevelopment | Tax Increment Finance (TIF)

$17M WHEFA Bond Financing Supports Southwest Health Center
WHEFA | Feb. 3 | Bond Finance | Community Development

Fitch Calls Out Moody's on Chicago Schools Analysis
The Bond Buyer | Feb. 2 | Bond Finance | Federal

FINRA Expels Lawson Financial, Bars CEO Over Fraudulent Muni Bond Sales
The Bond Buyer | Feb. 2 | Bond Finance | Federal

Hilltop Securities Settles 38 Studios Suit for $16M
The Bond Buyer | Feb. 2 | Bond Finance | Federal

Senate Finance Republicans Take Unprecedented Action to Advance Mnuchin
The Bond Buyer | Feb. 2 | Bond Finance | Federal | Legislative

FL 'Booming Economy' Bolsters Governor's Budget
The Bond Buyer | Feb. 1 | Bond Finance | Federal

Virgin Islands and Its Power Authority Face Near-term Financial Crises
The Bond Buyer | Feb. 1 | Bond Finance | Federal

Benefit Seen in IL Proposal for Borrowing to Pay Its Bills
The Bond Buyer | Jan. 31 | Bond Finance | Federal

IRS Audits Bonds for Dallas Project Citing Concerns
The Bond Buyer | Jan. 31 | Bond Finance | Federal | Internal Revenue Service (IRS)

Opinion: Financing Water Infrastructure through Tech-Innovation
The Hill | Jan. 30 | Bond Finance | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA)

Mnuchin Argues for Improved PABs Following Questions from Sen. Brown
The Bond Buyer | Jan. 30 | Bond Finance | U.S. Dept. of Treasury

CA Rain Doesn't Dampen Enthusiasm for Drought Projects
The Bond Buyer | Jan. 26 | Bond Finance | Water Finance

States Add 300 Projects to Trump's Infrastructure Wish List
The Bond Buyer | Jan. 26 | Bond Finance | Federal | Infrastructure Finance | State Finance Program

MSRB Files Standalone Minimum Denomination Rule with SEC
The Bond Buyer | Jan. 26 | Bond Finance | Municipal Securities Rulemaking Board (MSRB) | U.S. Securities and Exchange Commission (SEC)

DC Water to Issue $100M More Green Bonds to Help Fund Project
The Bond Buyer | Jan. 26 | Bond Finance | Infrastructure Finance | Water Finance

Former Public Finance Banker's Book Offers Insider's View
The Bond Buyer | Jan. 26 | Bond Finance

MSRB Taps Simon Wu to Serve as New Chief Economist
The Bond Buyer | Jan. 26 | Bond Finance | Municipal Securities Rulemaking Board (MSRB)

Muni, State, Local Groups Worry About Tax Reform, Sanctuary Cities, ACA
The Bond Buyer | Jan. 26 | Bond Finance | Federal

Wilmington Chamber of Commerce Appoints a New Leader Focussed on Infrastructure
Port City Daily | Jan. 25 | Infrastructure Finance | Bond Finance

Biomass Secure Power Inc. Tax Free Bond Status Approved
Uptick Newswire | Jan. 23 | Bond Finance | Energy Finance

City Motor Fuel Tax For Residential Streets a Possibility
KRIS TV | Jan. 23 | Bond Finance | Infrastructure Finance

Development Incentives and Tax Breaks Key Issue in Overland Park
The Kansas City Star | Jan. 23 | Incentives | Tax Increment Finance (TIF) | Tax Credits | Bond Finance

MBFA Seeks Signatures for Letter to Congress
Municipal Bonds for America | Jan. 19 | Bond Finance | Legislative

Incentives Move Kentucky Fresh Harvest Project Forward
The Interior Journal | Jan. 19 | Agriculture Finance | Bond Finance | Incentives | Tax Credits

City May Spend $2.2M on Long-Dormant Savannah River Landing Development
Business in Savannah | Jan. 18 | Bond Finance | Infrastructure Finance


Highlights from the Online Resource Database

Port of Authority of New York and New Jersey Reform
Bond Finance | Economic Development | Infrastructure Finance | Public-Private Partnership (P3) Financing
This report from the Manhattan Institute proposes the Port of Authority of New York and New Jersey cease to own or operate transportation infrastructure, instead planning and regulating an array of concession companies who would be held accountable for operating transportation performance through bond covenants and long-term concession agreement terms.

CDFA // BNY Mellon Webcast Series: Forecasting the Bond Market in 2017
Access to Capital | Bond Finance
This month's CDFA // BNY Mellon Development Finance Webcast Series featuring John Piemonte from Ehlers, Inc. and Nick Samuels from Moody's includes an outlook for credit ratings and takes a look at the bond market for the upcoming year.


The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
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(614) 705-1300
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