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Encyclopedia of Municipal Bonds: A Reference Guide to Market Events, Structures, Dynamics, and Investment Knowledge

Book Description

An accessible reference that explores every aspect of the municipal bond market

Until now, there has been no accessible encyclopedia, dictionary, nor guide to the world of municipal bonds. Comprehensive and objective, this groundbreaking volume covers the history and mechanics of the municipal market in clear and understandable terms. It covers all aspects of the market, including pricing, trading, taxation issues and yields, as well as topical events such as the financial crisis, hysteria about defaults and Chapter 9 municipal bankruptcy, fraud, and regulation.

Encyclopedia of Municipal Bonds also contains entries on important historical events and provides much-needed context for this field.

  • Everything you ever wanted to know about municipal bonds in one comprehensive resource

  • Joe Mysak is the author of the Bloomberg bestseller Handbook for Muni Issuers

  • Demystifies the world of municipal bonds for both the novice and professional investor

  • Explores issues such as the Orange County bankruptcy, the Jefferson County default, the New York City financial crisis, and the surprisingly recent creation of the modern municipal market

Encyclopedia of Municipal Bonds offers an essential reference guide for investors, professionals, regulators, insurers, and anyone else involved in the municipal bond market.

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Acknowledgments
  6. A
    1. ability to pay
    2. acceleration
    3. additional bonds test
    4. advance refunding
    5. advertised sale
    6. “All bonds go to heaven”
    7. Ambac
    8. AMT
    9. appropriation
    10. arbitrage
    11. Arkansas Default of 1933
    12. auction-rate securities
    13. auction sale
    14. authorities
  7. B
    1. bank-qualified
    2. basis points
    3. Baum pools
    4. Bell, California, pay scandal
    5. bid rigging
    6. black-box deals
    7. blind pools
    8. Blue List
    9. BOCES
    10. bond anticipation notes
    11. bond banks
    12. The Bond Buyer
    13. Bond Buyer indexes
    14. bond counsel
    15. “Bond Daddies”
    16. bond purchase agreement
    17. bond year
    18. book-entry-only system
    19. Bradford zeroes
    20. Build America Bonds
  8. C
    1. CAFR
    2. calls
    3. Canadian interest cost
    4. capital appreciation bond
    5. capital gains
    6. certificates of participation
    7. Chapter 9
    8. charter schools
    9. closed-end funds
    10. cogeneration projects
    11. colleges and universities
    12. community development districts
    13. competitive sale
    14. computers
    15. constitutional protection of tax-exemption
    16. convention centers
    17. CPI-linked municipals
    18. cram-down
    19. credit default swaps
    20. credit enhancement
    21. current refunding
    22. CUSIP
  9. D
    1. “Deadly Sins”
    2. debt per capita
    3. default
    4. Denver International Airport
    5. Dillon’s rule
    6. dirt bonds
    7. disclosure
    8. Dodd-Frank Wall Street Reform and Consumer Protection Act
    9. Mrs. Dodge
  10. E
    1. elections
    2. EMMA
    3. escrow churning
    4. escrowed to maturity
  11. F
    1. feasibility studies
    2. Fed Flow of Funds report
    3. Ferber trial
    4. 50 percent coupon
    5. financial advisers
    6. fiscal year
    7. 501(c)(3) issuers
    8. flipping
    9. floaters/inverse floaters
    10. flow control
  12. G
    1. garbage
    2. gas prepayment bonds
    3. GASB
    4. general obligation
    5. GFOA
    6. golf courses
    7. government census
    8. guaranteed investment contracts
  13. H
    1. Hammersmith
    2. Heartland fund implosion
    3. house museums
  14. I
    1. “Ideas in public finance blow in from the West”
    2. indenture
    3. Indian tribes
    4. industrial development bonds
    5. initiative and referendum
    6. insider trading
    7. insurance
    8. interest
    9. inverse floaters
    10. investment pools
    11. issue price
    12. issuer concentration
  15. J
    1. Jefferson County, Alabama
  16. K
    1. Kentucky Department of Finance v. Davis
  17. L
    1. laddering
    2. last looks
    3. lease financings
    4. legal opinion
    5. letters of credit
    6. liens
    7. limited obligation
  18. M
    1. market activity
    2. Marks-Roos
    3. Mello-Roos
    4. mini bonds
    5. moral obligation
    6. mortgage bonds
    7. MSRB
    8. Municipal Assistance Corporation
    9. municipal utility district
    10. mutual funds
  19. N
    1. negotiated sale
    2. net asset value
    3. net interest cost
    4. New Jersey pension obligation bonds of 1997
    5. New Jersey Turnpike scandal of 1993
    6. New York City financial crisis of 1975
    7. NRO
  20. O
    1. official statement
    2. OPEB
    3. open-end funds
    4. Orange County, California
    5. original issue discount
    6. out-of-state authorities
  21. P
    1. par
    2. pay-to-play
    3. pension obligation bonds
    4. pensions
    5. “People don’t buy municipal bonds to get rich; they buy municipal bonds to stay rich”
    6. Philadelphia trial
    7. PIT bonds
    8. preliminary official statement
    9. premium bonds
    10. premium laundering
    11. prerefunded bonds
    12. price to the par call
    13. pricing
    14. principal
    15. private placements
    16. Proposition 2½
    17. Proposition 13
    18. public–private partnerships
    19. Puerto Rico
    20. pyramid bonds
  22. Q
    1. Qualified School Construction Bonds; Qualified Zone Academy Bonds
  23. R
    1. ratings
    2. the ratio
    3. Recalibration of 2010
    4. redemption
    5. refunding
    6. repudiation
    7. reserve fund
    8. retail order periods
    9. revenue bonds
    10. RFPs
    11. risk factors
    12. rollover
    13. Rule 15c2-12
    14. rum bonds
  24. S
    1. Saco, Maine
    2. scales
    3. sealed bids
    4. secondary market
    5. serial bonds
    6. William F. G. Shanks
    7. stadiums
    8. state intercept programs
    9. swaps
    10. synthetic fixed rates
  25. T
    1. take and pay, take or pay
    2. takedown
    3. tax anticipation notes
    4. tax caps
    5. tax-exemption
    6. tax increment financing
    7. taxable municipals
    8. taxable tails
    9. tender-option bond programs
    10. term bonds
    11. Texas Permanent School Fund
    12. tobacco bonds
    13. toll roads
    14. total return
    15. tourist attractions
    16. Tower Amendment
    17. trick coupons
    18. true interest cost
    19. trustee
  26. U
    1. ultra vires
    2. underwriters
    3. unfunded pension liabilities
  27. V
    1. value per capita
    2. variable-rate demand obligations
  28. W
    1. Washington Public Power Supply System
    2. waste-to-energy facilities
    3. Who owns municipal bonds?
    4. willingness to pay
    5. window bonds
  29. Y
    1. yield burning
    2. yield curves
    3. yield to maturity
  30. Z
    1. zero-coupon bonds
  31. About the Author