Treasurer Magaziner is hosting regular education sessions on the topic of municipal debt.  These half-day sessions focus on rating agency relationship best practices, including issuers' perspectives on establishing relationships with the rating agencies, examples of key rating presentation elements & follow-up, and an investor's perspective on issuers' communication with the market and adequacy of disclosure.

Attendees have the opportunity to hear directly from representatives from national rating agencies, financial advisory firms, institutional investors, and underwriters. These sessions are free and open to the public. We encourage municipal employees from across Rhode Island, including mayors, finance directors, CFOs, finance directors, as well as employees of quasi-public corporations, to attend.

The latest training session took place on October 10, 2018 and was hosted by New England Tech. The session, which was free and open to the public, focused on "Best Practices for Investment of Bond Proceeds and Cash", and included: an issuer's perspective on maximizing investment returns, a discussion by bond counsel on federal and state statutory provisions governing investment of bond proceeds, as well as an investment manager's discussion of investment options.

The Rhode Island Treasurer's Office's next municipal education session will take place:
 
Date:     Monday, December 10, 2018
Time:    1:45 p.m. - 4:00 p.m.
Place:   New England Tech Media Presentation Theatre
 
This session, which is free and open to the public, will focus on providing issuers with critical information about continuing disclosure compliance, including suggested compliance practices for new SEC requirements that take effect in February 2019.
 
Please RSVP to Frank Quinn by Wednesday, December 5, 2018.
 
We encourage municipal employees from across Rhode Island, including mayors, CFOs, finance directors, as well as employees of quasi-public and non-profit corporations, to attend this event.
Agenda
 
1:45 - 2:00:   Arrival and Registration
 
2:00 - 2:30:  Overview: Paul S. Maco, Partner, Bracewell, Washington, DC
 
Mr. Maco is a former SEC senior official. He served as Director of the SEC's Office of Municipal Securities and SEC enforcement lawyer - as well as a private sector defense counsel representing issuers and underwriters. Mr. Maco offers a unique perspective on the SEC's new Amendments to Rule 15c2-12 (Continuing Disclosure). Mr. Maco will present an overview of the context surrounding these new requirements, including how these requirements differ from past practice.
 
2:30 - 3:00: Panel Discussion: New Disclosure Requirements, A Local Perspective
 
Neal R. Pandozzi, Partner, Nixon Peabody, Providence
Karen S.D. Grande, Partner, Locke Lord LLP, Providence
 
Mr. Pandozzi and Ms. Grande will provide an overview of these new requirements, including steps Rhode Island issuers should take to prepare for and manage these changes, which go into effect February 27, 2019.

3:00 - 3:30: GFOA's Best Practices
 
Emily S. Brock, Director, GFOA Federal Liaison Center, Washington, DC 

As Director of GFOA's Federal Liaison Center, Ms. Brock offers a distinctive viewpoint on federal legislative and regulatory activities that impact state and municipal financing activities. Ms. Brock will discuss GFOA's recommended best practices for complying with the new amendments to the Rule. She will also provide an overview of resources available to issuers who aim to better understand these and other disclosure requirements.

3:30 - 3:45:  Closing Remarks - Treasurer Seth Magaziner

3:45 - 4:00:  Networking and Refreshments

If you have questions or concerns, please contact Frank Quinn by phone at (401) 462-6951 or by e-mail at francis.quinn[at]treasury.ri.gov. It is anticipated that approximately 2 CPE credits will be available for qualified attendees.

For information on future sessions, please contact Frank Quinn, Director of Debt Management by e-mail at francis.quinn[at]treasury.ri.gov.


Past Presentations

October 2018

Agenda
RI Infrastructure Bank: Best Practices for Investment of Bond Proceeds
Payden & Rygel: Best Practices for Investment of Bond Proceeds
Locke & Lord: State & Federal Provisions Governing Investment of Bond Proceeds

July 2018

 

Agenda
Interacting with Moody’s
Hilltop Securities: A Guide to Understanding Your Bond Rating
Janney: Maintaining Good Relationships with Ratings Agencies
S&P Global: Guide to Rating Process, Methodology, and Framework
Fidelity: Issuer Communications with the Market
RI Treasury: Overview of Debt Management
PFM: Making an Effective Rating Presentation
PRAG: Rating Agency Trends