Speer Financial, Inc.  Public Finance Consultants since 1954
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Speer Financial Services

Financial Planning and Municipal Security Sale Services

Speer Financial will provide the following services and any additional that are necessary to complete the security sale:
  1. Orientation
    We will review your current financial position, statutory authority and financing capabilities, including whether a refunding or defeasance of any outstanding debt is appropriate.

  2. Coordination
    We will coordinate all financial planning and issuance details with staff, bond counsel, printers, rating agencies and other involved parties.

  3. Availability
    Members of our staff will be available to consult with the elected and key appointed officials and staff regarding all phases of the development and implementation of a financing plan. We will respond to any inquiries from the general public relating to the proposed sale.

  4. Planning
    We will develop a debt financing plan that includes:

    1. Maturity Schedules
      We will prepare alternative maturity schedules. The schedules could "wrap" around existing debt to provide stable tax rates, level debt service payments, or meet other policy or cash flow requirements.

    2. Market Receptivity
      We will evaluate potential market receptivity for each debt issuance and recommend the most suitable sale option.

    3. Tax Law
      We will evaluate the ramifications of Federal tax law on the financial plan to maximize any cost savings available to the issuer.

    4. Security Registrar and Paying Agent
      We will compare security registrar and paying agent fees and make recommendations for the selection of a Registrar and Paying Agent who most capably and economically meets a client's need.

    5. Credit Rating and/or Insurance
      We will evaluate the costs and benefits of obtaining a credit rating and/or insurance. We will review the merits of credit enhancement and should the cost effectiveness be warranted, recommend the rating and/or insurance firm (or firms) to which application should be made.

    6. Competitive and Negotiated Sale of Debt Securities
      We will analyze and make a recommendation on which method of sale is appropriate. The decision to sell securities competitively or by negotiation is largely subjective and must be made on a case-by-case basis.


      The circumstances which indicate a negotiated sale include:
      1. Either unusually large or very small debt issue amount;
      2. Complex or non-traditional financing structure;
      3. Issuer's first time into the public debt marketplace;
      4. Issuer has a low or uncertain credit rating;
      5. Volatile market conditions.

      The circumstances which indicate a competitive sale include:
      1. Attractive debt amount of $500,000 and up;
      2. Traditional financing structure such as a general obligation;
      3. Good reputation in the debt marketplace;
      4. Stablecredit rating;
      5. Stable market conditions.

    7. Tentative Financing Timeline
      We will prepare a tentative financing timeline to guide officials regarding issuance topics and timing.