Written for either public and investor-owned utilities, the guide addresses either conventional and leading edge software financing choices to satisfy either brief- and long term capital requisites. The handbook covers well timed issues corresponding to inflation, growth-related calls for, affects of public strain to maintain premiums low, and new financing techniques and issues. The guide additionally comprises an appendix on ranking organization specifications, informative tables and figures, a thesaurus and references.
record of Figures
checklist of Tables
desk of Contents
1. The Capital Finance making plans atmosphere
2. settling on Financing choices
three. comparing Financing choices
four. Going to marketplace: the method
five. Going to marketplace: The avid gamers
6. distinctive concerns for Investor-Owned Utilities
Appendix A: score employer Requirernents
References and extra resources of data
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Additional resources for Fundamentals of Water Utility Capital Financing - Manual of Water Supply Practices, M29
This would tend to make the GO bonds’ structure somewhat less flexible than with other forms of borrowing. Finally, the utility must compete with other government agencies for available bond proceeds needed t o fund their capital projects. Such competition may cause delays in the utility implementing its capital program. Revenue Bonds Revenue bonds offer important benefits t o the issuer. They provide a mechanism for recovering costs of specific services, such as water supply, directly from the users that benefit from the services.
TECP is a prime investment instrument for tax-exempt money market funds. Floating-rate demand notes. Floating-rate demand notes are securities on which the interest rate changes at predetermined intervals (often monthly) and that give the purchaser of the security the right to demand that the seller (utility)redeem the notes at each interest adjustment date. Floating-rate notes are usually issued in $100,000 denominations and are placed primarily with money market funds or other large institutional buyers.
Most revenue bond agreements or indentures contain provisions, or covenants, that are intended t o enhance marketability by providing investors with additional assurances that their money will be repaid. The following are among the provisions typically included in revenue bond documents: A rate covenant, by which the issuer agrees t o set rates sufficient t o meet all operating costs and some multiple of debt service. For example, there may be a requirement that net revenues available after operating costs will be sufficient to cover 125 percent of debt service.