Charter School Bond History: Looking Back and Looking Ahead
National Alliance for Public Charter Schools talks about LISC's Charter School Bond Issuance: A Complete History publication.
25 Oct 2011 - Maria C. Sazon, NAPCS Blog
The Charter School Bond Issuance: A Complete History, published by the Local Initiatives Support Corporation (LISC), provides a comprehensive analysis of the more than $5 billion in tax-exempt bond transactions undertaken by roughly 400 public charter schools, from the first bond offering in 1998 through 2010.
The report conveys transparency about the charter school sector of the municipal bond market and the current two-tiered system of public school financing—one for school districts, which frequently access the tax-exempt bond market at favorable rates, and another for public charter schools, which have limited access to the market and pay higher rates. The report finds that charter schools have paid an average interest premium of two percentage points more than triple-A rated municipal borrowers. According to the authors, these higher interest rates translate to an additional $90 million in interest payments annually for charter schools. Continued[+]...
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Article Type: Blog Post