CHICAGO — As school districts’ issuance of qualified school construction bonds picks up, the market is seeing its first competitively sold transactions of the tax-credit bonds, with several Midwestern district issues done and several more — including one from Milwaukee Public Schools — on the horizon.

Market participants — including independent financial advisers — lean towards the position that the complexity of marketing a tax-credit bond, especially one newly created in the stimulus act, lends itself to a negotiated transaction. For some districts, however, local or state restrictions require general obligation issues be sold competitively.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.