California Debt and Investment Advisory Commission
2006 Debt Issuance and Public Fund Investment Seminars and Conferences
CDIAC provides information, education and technical assistance on public debt and investments to local public agencies and other public finance professionals. CDIAC's continuing education seminars are offered throughout the year.
CDIAC and the California Association of School Business Officials:
ABCs of School Debt Financing
January 12, 2006, Sacramento, CA
January 19, 2006, San Diego, CA
CDIAC provides a daylong debt issuance seminar in Northern and Southern California. The program is tailored to new school business officials or staff members involved or interested in understanding the mechanics of school debt financing.
- Sources of School
Financing and Consideration
Ruth Alahydoian, Kelling, Northcross & Nobriga - The Basics of School
Debt Financing
Robert J. Whalen, Stradling Yocca Carlson & Rauth - Basic School Financing
Techniques and Process
Dawn Vincent, Stone & Youngberg, LLC - On-Going
Administration Matters
Robert J. Whalen, Stradling Yocca Carlson & Rauth
CDIAC at the California Society of Municipal Finance Officers Annual
Conference
February 21-24, 2006, Palm Springs, CA
CDIAC will provide sessions on debt and investment topics at the CSMFO Annual Conference.
- Session Descriptions
- Understanding Callable Securities
Nancy Jones and Nsesa Kazadi, PFM Asset Management - Understanding Callable Securities - The Bond Issuance
Perspective
David Persselin, City of San Jose
Barbara A. Lloyd, Lehman Brothers
CDIAC at the California Budget Project Conference: 2006 AND BEYOND, What is Next for California
March 16, 2006, Sacramento, California
CDIAC participates in an afternoon workshop session entitled "Everything You Wanted To Know About Debt" - An Overview of 2005 Local Bond Issuance in California, with Jane W. Thompson, Executive Director of the California Debt and Investment Advisory Commission.
- "Everything You Wanted To Know About Debt" - An
Overview of 2005 Local Bond Issuance in California
Jane W. Thompson, CDIAC Executive Director
Mechanics of a Bond Sale
March 16-17, 2006, Foster City, CA
This is CDIAC's intermediate debt issuance course. This one and one-half day program covers the methods of structuring a debt financing, selecting a financing team, preparing legal documents, working with rating agencies, marketing and pricing a debt issue, understanding federal arbitrage rules and regulations, and investing bond proceeds.
- Developing a Debt Management Policy
William Statler, City of San Luis Obispo
John Sheldon, Morgan Stanley - The Plan of Finance
Douglas S. Montague, Montague DeRose & Associates, LLC - Structuring the Financing
Scott Nagelson, Banc of America Securities - The Legal Documents
James Copeland, Sidley Austin Brown & Wood - Approaches to Credit Enhancement
Nikolai Sklaroff, Citigroup Global Markets Inc.
Dari Barzel, Moody's Investor Services - Marketing and Pricing an Issue
David Brodsly, Kelling, Northcross & Nobriga
Michelle Issa, Banc of America Securities - Understanding Arbitrage
Micki Hicks, MuniFinancial
Carol Lew, Stradling Yocca Carlson & Rauth - Investing Bond Proceeds
Eric Chu, Bond Logistix LLC
Carol Lew, Stradling Yocca Carlson & Rauth
Current Practices in Assessing and Using Developer Fees
May 4, 2006, Riverside, CA
May 5, 2006, Sacramento, CA
This one-day workshop is designed to provide information on the legal and administrative aspects of establishing and managing an impact fee program. In addition, the workshop will address methods used by cities and counties to apply revenues generated from fees to capital improvement projects. Finally, the workshop will highlight current or improved practices, including techniques to finance fees or allocate credits and direct payment to reimburse developers.
- Legal Aspects of Assessing and Using Developer Impact Fees
David Levy, Morrison & Foerster LLP - Development Impact Fee Programs
Tim Youmans, Economic and Planning Systems, Inc. - Establishing and Maintaining a Development Impact Fee Program
Paul R. Eldredge, City of Brentwood - Current Practices in Assessing and Using Developer Impact Fees, Session III
The California Debt and Investment Advisory Commission - Current Practices in Assessing and Using Developer Impact Fees, Session IV
The California Debt and Investment Advisory Commission - Speaker Responses to Participants Questions
Living with an Issue: On-Going Debt Administration Seminar
May 19, 2006, City Hall, San Jose, CA
This one-day debt management seminar is the third course in a series of CDIAC's debt administration seminars and is designed to provide issuers with the information and the steps necessary to develop a systematic on-going debt management system. The main illustration is the administration of fixed general obligation bonds. However, the course will highlight important considerations for bonded districts, variable rate, and swap administration. In addition, other important matters related to post bond issuance are covered, such as arbitrage rebate, refundings, and continuing disclosure. The program is intended to provide issuers with the concepts and tools necessary to take ownership of their debt through the life of a bond by "Living with an Issue."
- Before the Closing
Julia Cooper and Lisa Taitano, City of San Jose
Mark Risco, MuniFinancial - The Roles and Responsibilities of an Issuer and Trustee -
Part 1
Ashraf Almurdaah, US Bank - The Roles and Responsibilities of an Issuer and Trustee -
Part 2
Julia Cooper and Lisa Taitano, City of San Jose - Arbitrage/Rebate/Continuing Disclosure Compliance
Anne Pelej, MuniFinancial - The Decision to Refund
George Majors, Bond Logistix LLC - Advanced On-Going Responsibilities for Variable Rate
Financings and Swaps
Marcia Maurer, Sacramento Regional County Sanitation District
Julia Cooper and Lisa Taitano, City of San Jose
Dynamics of Marketing and Pricing Bonds Workshop
June 9, 2006, San Francisco, CA
This is a one-day workshop designed to provide issuers with an understanding of how bonds are marketed and priced. A panel of speakers will take participants through the negotiated and competitive bond sale process and the market factors that go into pricing bonds in order to give participants a better understanding of the logic that goes into the pricing process. As an added bonus, participants will have an opportunity to view the pricing desk of an underwriting firm.
- Competitive vs. Negotiated Sale
Gary Breaux, Fiance Director, East Bay Municipal Utilities District
Don Backstrom, Backstrom McCarley Berry & Co., LLC - Anatomy of a Negotiated Sale Transaction
Gary Hall, JPMorgan Securities - Mechanics of Pricing a Negotiated Bond Sale
John Bonow, Managing Director, Public Finance Management
Joel Silva, Managing Director, Stone and Youngberg LLC - Anatomy of a Competitive Sale Transaction
Jocelyn Mortensen, Managing Director, Public Resource Advisory Group
Cash Flow Forecasting Workshop
September 13, 2006, San Mateo, CA
This one-day intermediate workshop is designed to help investment officers design useful cash flow models to assist them in determining appropriate portfolio structure for their agency's investments. An in-depth discussion and hands-on curriculum are used to assist attendees in further developing their cash flow forecasting skills and managing their investment portfolios based on this analysis.
- Critical Considerations for Cash Flow Management and Forecasting
Monty Hanks, City of Roseville - Continued: Cash Flow Tools and Strategies
Tony Garcia, Wells Fargo IBS - Advanced Investment Strategies for Cash Flow Forecasting
Ned Connolly, Chandler Asset Management, Inc.
CDIAC Pre-Conference at the Bond Buyer's 16th Annual California Public
Finance Conference
September 25, 2006, San Francisco, CA
The Pre-conference Program will focus on the disclosure of other post employment benefits (OPEBs), highlighting the requirements of Governmental Accounting Standards Board Statement No. 45, the issues and problems surrounding its implementation, and its impact on state and local governments. This will be the fifth consecutive year that CDIAC has hosted the Pre-conference Program.
- OPEB Disclosure Practices
- GASB 45 Overview of Reporting Requirements
Michelle Czerkawski, Assistant Project Manager, Governmental Accounting Standards Board - Moody's Perspective on OPEB Liabilities and Disclosure
Ken Kurtz, Managing Director, Moody's Investors Service - Revealing OPEBs in Your Financials
Brian Whitworth, OPEB Specialist, JP Morgan - Handouts
- GASB 45 Overview of Reporting Requirements
- Implementation Education
- Implementing GASB 45
Karen Ribble, Associate Director, FitchRatings - GASB 43/45 - Actuarial OPEB Valuations
John Botsford, Principal and Consulting Actuary, Milliman Consultants and Actuaries - Annual Financial Reporting - GASB 45
Kevin Pulliam, Partner, Vavrinek, Trine, Day & Co., LLP - The "Substantive Plan" GASB 45
Chuck Thompson, Senior Vice President, Keenan and Associates - Financing OPEB
Jenna Magan, Partner, Orrick Herrington & Sutcliffe LLP - A Union Perspective of GASB 45
Dom Summa, Assistant Executive Manager, California Teachers Association - Benefit Obligation Bonds Facilitating the Transition to ARC Funding
Rob Larkins, Managing Director, Lehman Brothers - Hand Outs
- Implementing GASB 45
- California Case Studies:
- Revealing OPEBs in Your Financials: California Case Studies
Parry Young, Director, Standard and Poor's - East Bay Municipal Utility District - Case Study
Gary Breaux, Finance Director, East Bay Municipal Utility District - City of San Diego - Case Study
Jay Goldstone, Chief Financial Officer, City of San Diego - County of San Diego - Case Study
Dan McAllister, Treasurer/Tax Collector, San Diego County - Pre-funding Post Retirement Medical Benefits GASB Statement 45
Ken Marzion, Assistant Executive Officer, California Public Employees' Retirement System - Peralta Community College District - Case Study
Thomas Smith, Vice Chancellor of Budget and Finance, Peralta Community College District - Asset Allocation for GASB 45 OPEB Liabilities
Barbara Lloyd, Senior Vice President, Lehman Brother
- Revealing OPEBs in Your Financials: California Case Studies
Fundamentals of Debt Financing
October 12-13, 2006, San Diego, CA
This one and one-half day seminar is designed to provide participants with fundamental terms, concepts and processes relating to debt issuance. Topics covered in this course include: roles and responsibilities of the issuer as well as other members of the financing team; types of long-term financing; an overview of initial and continuing disclosure; how credit ratings and investor needs can be incorporated into an issuer's bond structure; and the fundamentals of a bond sale.
- Introduction to Bond Math
Ken D. Fullerton, Principal, Fullerton and Friar Inc. - Municipal Bond Industry Professionals and Their Roles
- Role of Bond Counsel
Arto Becker, Partner, Hawkins Delafield & Wood LLP - The Role of the Financial Advisor and Underwriter
David Brodsly, Vice President, Kelling, Northcross & Nobriga
Kimberly Quinones, Managing Director, Ramirez & Co., Inc. - The Trustee
Esther Cervantes, Vice President, US Bank
- Role of Bond Counsel
- How to Make Sense of the Debt Issuance Process and Your Role in the Process - An Issuer's Perspective
- How to Make Sense of the Debt Issuance Process: An Issuer's Perspective
Natalie R. Brill, Chief of Debt Management, City of Los Angeles - Fundamentals of Debt Financing
Donald F. Steuer, Chief Financial Officer, County of San Diego
- How to Make Sense of the Debt Issuance Process: An Issuer's Perspective
- Initial and Continuing Disclosure
Rick Hiscocks, Partner, Orrick, Herrington and Sutcliffe LLP - Types of Short- and Long-Term Financings
Andy Nakahata, Vice President, Goldman Sachs & Co.
Eileen Gallagher, Director, Stone and Youngberg LLC
David Jones, Principal Treasury Analyst, City of Oakland - Understanding Credit - Enhancement and Ratings
- Overview of Moody's Ratings & Credit Analysis
Dari Barzel, Senior Vice President, Moody's Investors Service - Presentation to California Debt and Investment Advisory Commission
Shari Sacks, Vice President, MBIA Insurance Corporation
- Overview of Moody's Ratings & Credit Analysis
- Luncheon Speaker - Disclosing OPEBs in Your Financials
Jay Goldstone, Chief Financial Officer, City of San Diego - Fundamentals of a Bond Sale
Gary Hall, Vice President, J.P. Morgan Securities Inc.
Advanced Concepts and Practices for Investing Public Funds
November 16-17, 2006, Long Beach, CA
This one and one-half day seminar is designed to provide public officials and their staff involved in the investment of public funds with the opportunity to obtain information about investment economics, investment products, forecasting and cash flow analysis, investment objectives, and performance measurements.
- Investment Economics:
John Shin, Vice President and Senior Economist, Lehman Brothers - Cash Flow Management and Forecasting:
Annette Kerber, Assistant Treasurer/Tax Collector, San Bernardino County
Craig Hughes, Investment Officer, San Bernardino County - Selecting the Best Products for Your Investment Goals - Part I:
- Selecting Investments to Meet Your Goals
Kay Chandler, President, Chandler Asset Management - Investment Security Selection for Portfolio Management
Hank Stern, Chief Investment Officer, City of Los Angeles - Callable Agencies
Margaret Kerins, Managing Director, RBS Greenwich Capital - Product Selection and Evaluation
Ray Johnson, Applications Specialist, Bloomberg LP
- Selecting Investments to Meet Your Goals
- Obtaining Value When Investing Bond Proceeds
Craig Underwood, President, Bond Logistix - Conducting Your Transactions: Dealing With the Street: A Public Funds Perspective
Bill Blackwill, Senior Vice President, Citigroup Global Markets, Inc. - Establishing Benchmarks to Improve Investment Management: Benchmarking for Performance
Deanne Woodring, Managing Director, D.A. Davidson - Rebalancing Your Portfolio:
Nancy Jones, Managing Director, Public Financial Management, Inc.
Previous Seminars
- 2005 Seminars
- 2005 Tools to Revitalize California Communities Activities
- 2004 Seminars
- 2004 Tools to Revitalize California Communities Activities
- 2003 Seminars
- 2003 Tools to Revitalize California Communities Activities
General Information
Seminar locations alternate between Northern and Southern California and are geographically dispersed to target markets where education on public debt issuance and investments are appropriate. The programs are geared towards public agency officials and their staffs responsible for or involved in the issuance of municipal bonds, the administration of bonded debt or the investment of public funds. Representatives of cities, counties, special districts, school and community college districts, redevelopment agencies, and elected officials are especially encouraged to attend. Registration is limited to public officials. No walk-in registrations are accepted. The cost for each program varies depending upon which program is being held. For more information about CDIAC's Technical Assistance Seminars, please contact CDIAC.
