The Cost of Issuing a Bond

BY TOM GILMORE | POSTED MAY 2019

The Bond 101 database provides a wealth of information regarding bond issuances and their associated prices. The following analysis of trends and cost averages is intended to help jurisdictions identify potential costs of bonds that may be incurred prior to seeking the help of bonding professionals. While this is no replacement for the aid of bond counsel we hope to help you hit the ground running in your consideration of financing options.

How do you choose a funding source for a project?

There are two primary concerns when determining how to fund a project: how much funding will be required for the project, and how long will the jurisdiction benefit from such a project. Identifying these needs can help clarify which financing option will be best for any given project.

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New to the Clearinghouse?

The Bond Users Clearinghouse provides a wealth of data on bond issuances and local government debt across Washington state. This data can be found under the reports header in the right column menu.

If you are a new Bond User and need to create a Bond 101 account, you will need to create an account with the Clearinghouse here, and create an account through Secure Access Washington. Bond 101 accounts are approved by Clearinghouse staff, new account requests will only be approved during business hours.

If you have any questions about the registration process or data available through the Clearinghouse, please reach out to us at buc@commerce.wa.gov.

Our Other Programs

Clearinghouse Reports

Other Resources

Submitting Debt Data

Statutory Authority

Chapter 39.44 RCW requires all state and local governments or their agents to submit a Bond 101 report on all debt issues within 20 days of issuance. Local governments are also required to report annually on their outstanding general-obligation debt.

Calculating Local Debt Capacity: How and Why?

Regardless of revenues, history, and ratings, the state limits the borrowing power of even the most credit-worthy local governments.

Those limitations, both constitutional and statutory, are based on a percentage of the assessed valuation of the taxable properties within each jurisdiction.

In our Local Debt Limitations Primer, we walk you through how and why local debt capacity is calculated….

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Five Ways to Learn More About Public Debt

The Bond Users Clearinghouse collects, analyzes, and publishes information on all bonds issued in the state, and on local government outstanding general-obligation debt. This information, which is available free of charge, is provided through five services:

1. The annual Public Debt Report, which itemizes all state and local government bond issuances.

2. The annual GO Report, which lists local government general-obligation debt and use of statutory debt capacity.

3. Monthly spreadsheets of all state and local bond data reported to the Clearinghouse.

4. News and information about public debt, including analysis of our data and background on emerging issues.

5. A public debt archives, which is an online database of bond issuances that allows you to search for bond issuances using several criteria. You can also download official bond documents.

Note that we can also conduct customized searches, make copies of documents from our archives, or point you in the direction of additional resources.

Need help?

Tom Gilmore, Program Manager
tom.gilmore@commerce.wa.gov
Phone: 360-725-5038

Alice Zillah, Research Services Manager
alice.zillah@commerce.wa.gov
Phone: 360-725-5035