Tag: special district


Add Xenia Rural Water District’s to the short but growing list of over-leveraged municipal borrowers.  With $143 million in debt and about 9,000 customers, the unfolding socio-gram includes bondholders, bond insurers CIFG and Assured Guaranty, the US Department of Agriculture, Read more…


In a recent report about Mello-Roos Community Facility Districts (CFD’s) the California Debt and Investment Advisory Commission (CDIAC) stated: Despite the potential impacts of evolving mortgage conditions, CFD’s have not reported higher default rates, at least through 2007-2008, but have Read more…


It’s not news that consumer spending is off, but in municipal bond country this also means sales taxes are coming in lower.  Some communities, such as those that depend on major shopping malls may see a double whammy from their Read more…


Municipal bond defaults over the last two years occur in sectors that tie into the financial crisis: real estate.  Multi-family housing and land development projects that never took off are at the front line.  Special entities – usually a district Read more…


Insured 2007 bonds were sold to finance road construction for the Avery Ranch master planned community north of Austin, Texas.  Download the report.


A sample report on this district’s fiscal condition, 2005 bonds insured by AMBAC, no underlying rating, is available for your review.