Bond Accountability Commission 2 Recommendations Page 45
Criteria used in the prior selection process that were based on considerations other than strictly upon the overall cost to CMSD and the taxpayers
Stabilization of the municipal securities market since the selection of the prior team
We recommend that the criteria weighting used in the selection process for underwriters for any negotiated CMSD Bond or Note offerings focus solely upon what is most important to CMSD’s taxpayers—the capability to sell the Bonds and Notes at the lowest overall costs taking all costs and interest yields into account. We recommend that CMSD develop, with its Financial Advisors and Bond Counsel, a program directed toward stimulating enhanced investor interest through meetings and other communications with institutional investors, and potentially individual, investors and in addition, for direct subsidy QSCBs and BABs, foreign investors, life insurance companies and pension funds. Once the MSRB’s issuer financial disclosure incentives become final, we recommend that CMSD discuss with its Financial Advisors and Bond Counsel the potential for taking advantage of the MSRB’s offer in order to attract investor interest. We recommend that CMSD discuss with its Financial Advisors and Bond Counsel how CMSD might be able to make a low-cost effort on its website to attract investor interest.