William C. Rhodes

The traditional governmental bond market, once an easy bet, is not in fashion now. Once GO holders thought of themselves as secured creditors backed by the full faith and credit and taxing power of local and territorial governments. Some states have taken steps to protect their local GO pledges by incorporating statutory liens. Bond investors, including banks, will discuss their strategic approach to investing in the GO municipal market, as well as surveillance of warning signs of distress. This panel will explore perspectives on different GO pledges, and recommended best practices for GO disclosure, including NFMA’s recent draft white paper on GO Bond Disclosure.

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