July 15, 2016
The California Debt and Investment Advisory Commission has forwarded information about a couple of upcoming seminars that may be of interest. The first, Municipal Market Disclosure, delves into the development of disclosure policies in light of the SEC’s emphasis on them as a result of MCDC. Megan Reilly, CFO of Los Angeles Unified School District, is scheduled to present during two sessions on September 8.
The second seminar is their flagship program, Municipal Debt Essentials, which is a three-day comprehensive program covering the fundamental concepts of debt issuance, the steps an issuer takes in preparing for a bond sale, and the process of accessing the capital markets. They have revamped the seminar to include applied learning exercises that they hope will help participants synthesize the information from the presentations.
Details and links are below. As always, you can find all of our programs on the CDIAC Education website. Please feel free to contact Sandra Kent if you have questions or need further information.
California Debt and Investment Advisory Commission (CDIAC)
915 Capitol Mall, Room 400 | Sacramento, CA 95814
Direct: (916) 651-1474 | Main: (916) 653-3269
MUNICIPAL MARKET DISCLOSURE: THE DEVELOPMENT AND ADMINISTRATION OF DEBT DISCLOSURE POLICIES
SEPTEMBER 8, 2016 | IRVINE, CA | COST: PUBLIC OFFICIALS – $150, PRIVATE – $250
Since 2010, the United States Securities and Exchange Commission (SEC) has predicated several enforcement actions at least in part on the failure of issuers to maintain sound disclosure policies. In addition, the SEC’s Enforcement Division has repeatedly placed heavy emphasis on issuers maintaining sound disclosure policies. In August 2015, the National Association of Bond Lawyers published guidelines to assist issuers in the development and administration of disclosure policies. This seminar intends to continue that dialogue by providing participants with an understanding of the purpose, structure, and content of disclosure policies, as well as practices that help issuers implement and maintain them. The seminar goes beyond the basis of the CDIAC 2015 webinar release, Disclosure Policies: What Every Issuer Should Know. This seminar qualifies for 7.0 hours of MCLE credit and is considered certifiable by most approving bodies. MORE REGISTER
MUNICIPAL DEBT ESSENTIALS
OCTOBER 26-28, 2016 | SACRAMENTO, CA
COST: PUBLIC OFFICIALS – $150 PER DAY OR $375 FOR ALL THREE DAYS. PRIVATE – $350 PER DAY OR $975 FOR ALL THREE DAYS
This three-day seminar is designed to provide municipal financing principles through lecture, short examples, and classroom interaction. Day 1, Debt Basics, covers the fundamental elements of debt financing, from the core concepts of bond math to the types of debt state and local governments can issue. Day 2, Planning a Bond Sale, is focused on the preparation, planning, and processes involved in issuing municipal debt, including, but not limited to, the development of a written debt policy and plan of finance, structuring debt service payments, managing cost of issuance, and credit analysis. Day 3, Marketing and Pricing a Municipal Bond, covers the concepts and processes involved in accessing the capital markets. The topics include a discussion of the offering document used to sell the bonds and how underwriters and issuers seek to market and price the bond. MORE REGISTER