GO Savers is an innovative “pooled financing” program that assists California public agencies with issuing voter-approved general obligation bonds.
WHO IS ELIGIBLE?
- Any California public agency can use the GO Savers program, including school districts, cities, counties and hospital districts
- Participants must have received prior GO bond authorization
HOW DOES IT WORK?
- GO Savers bonds are issued in partnership with the California Statewide Communities Development Authority (CSCDA) – a JPA sponsored by the League of California Cities and the California State Association of Counties (CSAC)
- With GO Savers, public agencies can issue fixed-rate bonds of up to 40 years secured by local ad valorem property taxes
- GO Savers can be used for new money and/or refunding prior bond issues to generate taxpayer savings
- The first GO Savers public offering for five Monterey County public agencies generated proceeds of $40 million and taxpayer savings of $5.7 million
- GO Savers is a cost-effective, “one-stop shop” for issuing GO bonds at competitive public market rates
- A larger par amount attracts a larger universe of investors
- The economies of scale from a pooled structure means lower fees for bond/disclosure counsels, financial advisors and rating agencies than one agency could achieve with a stand-alone financing
To learn more about the GO Savers program and how it can help you click here or reach out to any of the following program representatives: