The Impact of Debt Limitations and Referenda Requirements on the Cost of School District Bond Issues
AbstractOne 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. © 2011 Association for Education Finance and Policy
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by MIT Press in its journal Education Finance and Policy.
Volume (Year): 6 (2011)
Issue (Month): 4 (October)
Contact details of provider:
Web page: http://mitpress.mit.edu/journals/
Find related papers by JEL classification:
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karie Kirkpatrick).
If references are entirely missing, you can add them using this form.