The San Francisco Airport Commission refunds $110 million in fixed-rate revenue bonds with new variable-rate bonds to lower its overall interest cost.  •  The San Dieguito Union High School District responds to the turbulent auction-rate market by converting $90 million in ARS bonds to fixed-rate securities.  •  De La Rosa & Co. generates $41 million of retail orders to reduce yields and save the L.A. County Metropolitan Transportation Authority significant interest costs on a $25-million Sales Tax Revenue Bond issue.  •  The L.A. Community Redevelopment Agency obtains a strong investment-grade rating on a $12.5-million Taxable Tax-Allocation Bond issue for the Westlake Recovery Project.  •  Despite a tough market, Beverly Hills successfully refunds $31 million in water revenue bonds and $17 million in wastewater revenue bonds for economic savings.  •  The Gridley Redevelopment Agency clears various hurdles caused by tightening credit in the municipal market to successfully execute its first tax-allocation bond financing.  •  Riverside issues unenhanced Bond Anticipation Notes to mute the effects of the collapse of auction-rate securities and prudently control interest costs.  •  The Sacramento Regional County Sanitation District restructures $50 million in auction rate securities with better performing, direct pay variable-rate bonds backed by letters of credit.  • 
 

Chowchilla Funds Infrastructure to Maintain Growth

In 2007, De La Rosa & Co. served as sole Senior Manager on an $8.6-million special tax financing for Chowchilla. The city’s master plan identified $93 million of infrastructure critical for proposed residential, commercial and industrial projects. Development impact fees would fund a large portion of the improvements, and bond proceeds would finance projects that must be built before impact fees can support them. The 2007 bonds were issued as the first of three series for the Community Facilities District, and raised more than $6.5 million in net proceeds.

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Capital Planning - Our investment bankers are experienced in the fields of accounting, municipal law, real estate, business negotiation and finance. Their knowledge and skills are invaluable resources for clients to develop prudent and sustainable capital plans.

Project Development - De La Rosa & Co. helps clients acquire and entitle land, select developers and negotiate real estate and equipment transactions. We also help configure tax payments and revenue streams to maximize sustainability for their projects.

Obtaining Funding - Many projects are only partially funded with bonds. Our first priority is to identify federal, state and local grants or low-interest loans to pay a portion of these projects. The resulting gap is then financed with tax-exempt or taxable bonds

Determining the Financing Method - De La Rosa & Co. can often finance an individual project on a stand-alone basis. Revenue bond structures and special tax financings, such as Assessment Districts, can help complete projects and preserve a clients' overall financial condition.

We use Certificates of Participation, General Obligation Bonds and other lowest-cost financing alternatives for government projects with a general purpose or benefit. This approach has succeeded because we understand our clients' objectives and are committed to helping them meet their goals through the least expensive financing method.

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