Rockmill’s public finance services are designed to give our clients the peace of mind they are getting reliable guidance. The kind of guidance that will produce exceptional results. Our approach is designed to provide a clear understanding of the options that are available, and the benefits of using them. We take our time to understand the goals that are the most important to you and your community. Then we make them a reality.
Public Finance Services
Selection of Underwriters
We will:
- identify potential bond underwriters
- act as a liaison between you and the underwriter
- create a process to select the underwriter
- create a system to rank underwriting firms
- recommend the best underwriter
- write the job requirements for the underwriter
- engage them into the financing process
- explain the underwriter’s responsibilities
Determining financial structure
We will:
- identify financing constraints
- develop client goals
- identify legal and market requirements
- develop structural options for your consideration
- present a deal structure that’s most attractive to you
Assist with preparing Official Statements
We will:
- provide an outline of the required information
- provide you a clear explanation of the material
- identify the information we are capable of obtaining
- collect information on your behalf
- help you gather your information
- review all information for accuracy and consistency
- coordinate communication of data to Counsel
- review the final O.S. for accuracy and consistency
Credit (Bond) rating analysis and measurement
We will:
- conduct a detailed financial analysis of the client
- create a matrix to identify the client’s rating potential
- use the matrix to determine if a upgrade is possible
- use the matrix to develop a rating “plan”
- present the plan to the governing body
Credit rating preparation
We will:
- use the rating plan to develop a presentation strategy
- schedule practice meetings
- host each meeting
- identify participants needed in the presentation
- develop the presentation outline
- develop the presentation material
- “coach” the participants
- rehearse the presentation with you
- schedule the rating meeting
- handle all the travel arrangements
- allow for the safe transportation home
Interest rate investigations
We will:
- provide interest rate indications based on current markets
- provide interest rates for comparable bonds
- provide explanations of future rate trends
Selecting the most effective distribution process
- Negotiated
- Competitive Bid
- Private Placement to a major purchaser
- Private Placement to a local bank
- Private Placement to the County
- Co-managed with a local broker
- Internal purchase
General tax rate studies and millage estimates
We will:
- evaluate the best use of income taxes vs. property taxes
- project revenue related to different tax streams
- determine how much each tax revenue can support
- calculate the tax rate to achieve the desired goals
- provide usable taxing options
- provide a calculator for bond millage rates
- provide a calculator for levy millage rates
- provide a table of the tax cost for residents
Debt limit verifications
We will:
- analyze all the factors impacting a client’s debt limits
- determine the client’s debt capacity
Affordability analysis
We will:
- analyze the project cost and available revenues
- identify alternative revenue sources
- determine the capital affordability
- determine the operating affordability
- recommend a structure that’s affordable
Creating debt policy
We will:
- get your current and future debt needs
- review the outstanding debt issues
- review the existing debt policy
- develop a policy for managing and issuing debt
- refine the outline into an actual debt policy
Confirming the sufficiency of current cash balances
We will:
- develop a balance sufficiency model
- create a stress test