Public Finance - Connellsville Area School District

Transactions

Client: Connellsville Area School District
Transaction Type: General Obligation Bonds
Role: Underwriter

  • In 2009, the School District utilized the Build America Bond (“BAB”) Program that was enacted under the ARRA of 2008.
  • The 2009 Bonds contained a Federal credit due to the School District that ranged from 31% to 35% annually.
  • The 2019 Bonds were issued as tax-exempt bonds. The lower tax-exempt interest rates provided enough debt service relief to offset the Federal interest rate credit and provide an additional savings to the School District of $3.8M.