The Joint Committee on
Performance Evaluation and Expenditure Review
Report # 449
A Survey of Cost of Issuance Expenses of CY 2002 Local Bond Issues
Executive Summary
Local entities in Mississippi issued approximately $533 million in bonds during calendar year 2002. This report is designed to be a source of information for legislators regarding issuance costs of local bonds. PEER surveyed local entities (e.g., counties, municipalities, school boards) in order to determine costs associated with the issuance of Calendar Year 2002 local bonds. PEER did not verify the accuracy of the information submitted by local entities. This report contains no conclusions or recommendations.
The total issuance expenditures for CY 2002 local bonds amounted to $7,831,279. Of this total, $4,281,791 was earned by legal counsel and $3,549,489 was earned by other professionals (e.g., underwriters, financial advisors, rating agencies).