Refunding bonds

The black box gang has always mistaken complexity for sophistication in the realm of financial modeling.

The audit could be part of an ongoing initiative by the IRS to examine refunding bonds, said a lawyer.

Kalotay faults the Municipal Securities Rulemaking Board and U.S. Securities and Exchange Commission for not requiring training in options-based analytics as part of their certification of municipal advisor representatives.

A large share of the refundings that saved the city hundreds of millions of dollars wouldn't be possible now that advance refundings are eliminated, a city official said.

Bond proceeds, approved in a 2016 measure, will be used for programs to aid homeless people.

The junk-rated city is eyeing a return to market without a state backstop, but there is no timeline.

The city will decide whether to apply the designation to an upcoming deal to fund housing for homeless people.

The $139 million refunding saved Alabama’s most populous county $12.35 million in debt-service costs.

Material improvements in spending flexibility led Fitch to give Alabama’s most populous county a two-notch upgrade.

The IRS is focusing on $435.2 million of Series 2014A senior lien revenue refunding bonds and $75.87 million of Series 2014C second lien revenue refunding bonds.