Skip Nav Destination
Close Modal
Update search
NARROW
Format
Journal
Date
Availability
1-1 of 1
Vincent G. Munley
Close
Follow your search
Access your saved searches in your account
Would you like to receive an alert when new items match your search?
Sort by
Journal Articles
The Impact of Debt Limitations and Referenda Requirements on the Cost of School District Bond Issues
Publisher: Journals Gateway
Education Finance and Policy (2011) 6 (4): 537–556.
Published: 01 October 2011
Abstract
View article
PDF
One distinction between the markets for corporate and municipal bonds involves institutional constraints that apply to some municipal bond issues. This research focuses on how public finance institutions, in particular explicit debt limits and referenda requirements, affect the borrowing cost of individual school district bond issues. The empirical model specifies as the dependent variable the true interest cost of issuing debt. The results suggest that the presence of referenda requirements for the approval of annual school district budgets imposes an additional cost for borrowing funds.