General Obligation and SFID Bonds

As a financial advisor for California G.O. school bonds, California Financial Services has developed considerable experience in the sale and issuance of traditional G.O. bonds and the now more frequent use of Proposition 39 G.O. bonds. Since 1996, CFS has won all but two of the initiatives where it acted as a lead consultant in developing the ballet initiative and bond plan. In total, CFS has acted as financial advisor for over $8 billion in school general obligation bond measures. Our thorough process addresses many of the possible public concerns about unexplored alternative methods of funding facility needs including the State School Building Program and developer mitigation. CFS has also developed materials and guidelines to aide School Districts in complying with the pre- and post-election requirements of Proposition 39 bonds, including our KeyAnalytics platform for tracking and reporting information to Citizen Oversight Committees.

CFS advisors work to structure tax repayment plans that reflect the growth rate and economic situation of each community, often producing a less expensive “tax rate,” and a more politically approvable result.


COPs, CFD Bonds, Lease Revenue Bonds & Lease-Purchase Financing

While COPs and Lease Revenue Bonds have become less common with the passage of Proposition 39 in 2002, they still can prove to be an important component in a District’s financial plan. From interim funding to bond anticipation to specialty programs such as QZABs, the lease financing structure continues to remain an important element of a comprehensive financial plan.

CFS has extensive experience with lease-backed financings such as COPs and Lease Revenue Bonds. CFS' two lead advisors have a combined 61 years’ experience in the lease and municipal securities industry and have completed more than $3 billion of California COP and Lease Revenue Bonds throughout their careers, including over $2 billion at CFS.