MiniMuni Session Topics

Tax Arbitrage  

• This panel will cover Arbitrage Rules that apply to tax-exempt bonds. These rules limit the ability of an issuer to earn a profit by investing unspent proceeds of tax-exempt bonds at a yield higher than the yield earned by the bondholders. The calculation addresses two key questions: Can an issuer earn an investment yield that is materially higher than the bond yield? And if an issuer can earn it, can the issuer keep it, or must the issuer pay a 100% tax on it to the federal government (referred to as “rebate”)? Current events and rate environments have led to strategic decisions for issuers lately – this panel will address all pressing issues. 

Disclosure  

• The purpose of disclosure is to help investors assess the rewards and risks associated with municipal bonds after their initial issuance. It is the issuer’s responsibility to ensure consistent and accurate disclosure information regarding financial health, bond value, and repayment timelines. Attend this session to get a comprehensive overview of the different types of disclosure documents and requirements. Additionally, expect to hear from regulators about the latest updates and advancements in the disclosure space.  

The Impact of Federal Funding on Financing  

• At GFOA we primarily focus our trainings and advocacy on financing, but this year we have had to respond to a changing federal landscape, namely the passage of a federal tax package, the One Big Beautiful Big Bill Act. Join this session to hear from federal experts about the intricacies of this bill and how it may impact your jurisdiction’s funding opportunities and subsequently, your finances. Whether you represent health and educational facilities or public utilities, there will be important updates for everyone.   

Deal Team  

• Before entering the market, it is important to assemble the best team of professionals to ensure success. Whether you are entering the market for the first time or do so frequently, this panel will walk you through the essential steps to guarantee you are assembling a team with the know-how to help you navigate the sale of your bonds. You will hear the perspective of an issuer, underwriter, and bond counsel and they will walk you through GFOA’s best practices on this topic.  

Refundings  

• Since the passage of the 2017 Tax Cuts and Jobs Act (TCJA), issuers no longer have the ability to advance refund their bonds in a tax-exempt manner. The post-TCJA landscape has caused issuers to get creative with how they achieve savings, leading to the rise in popularity of tools such as tender refundings. Join this panel to learn the intricacies of these tools, what you need to consider before using them, and how you too can leverage them for the benefit of your jurisdiction.  

Issuer Colloquy  

• To close out MiniMuni we will be hosting one of our more popular panels consisting of a diverse group of issuers. These practitioners will be providing their reactions to everything that was covered throughout the conference and will make sense of the most complicated topics. It is rare to get small, medium and large-sized issuers in one room to discuss disclosure, market conditions, federal regulations, and other hot topics, but that is exactly what this panel will provide. 

Technology (Role of AI and Cybersecurity)

• Full details coming soon.