Question 1

What is CalMuni PFA?

Accepted Answer

CalMuni PFA is a government-to-government programmatic lender which is Board mandated to get our members best rates and terms through our competitive lending process. As a statewide Joint Powers Authority ("JPA") we are able to under the Joint Exercise of Powers Act to create flexible financing structures that benefit our members. CalMuni PFA membership is open to the public, all you have to do is apply.

Question 2

What is a JPA?

Accepted Answer

A JPA (joint powers authority) is formed when two or more public agencies, by agreement, jointly exercise any power common to those public agencies.  JPA's have the authority to issue taxable and tax-exempt bonds for public, private and non-profit entities.

Question 3

What is the benefit of working with CalMuni PFA?

Accepted Answer

CalMuni PFA is a government to government (G2G) programmatic lender which utilizes a competitive bidding process to reach every active muni lender in the nation, guarantying best interest rates, terms and conditions available in the municipal marketplace.

Moreover, we are an approved program lender for dozens of subsidized federal grant and loan programs.

When partnering with CalMuni PFA,  we handle everything from start to finish, freeing you and your staff from the uncertainties of securing optimal financial terms.

Many local agencies find stand-alone financings too costly or lack the necessary resources or experience to facilitate the bond issuance and perform post-issuance activities for the term of the bonds. CalMuni PFA provides expert consultants (bond counsel and municipal advisors) that act as an extension of your agency in order to streamline the processes and generate the best terms and conditions possible.

Question 4

How much does it cost to be a member of CalMuni PFA?

Accepted Answer

There is no cost for being a member of CalMuni PFA. Minimal administrative fees will be charged only if any debt is offered.

Question 5

Does a member of CalMuni PFA incur liabilities of other members?

Accepted Answer

No. The bonds issued by CalMuni PFA are limited obligations of the borrower, not CalMuni PFA or the program participant. The CalMuni PFA joint powers agreement expressly provides that CalMuni PFA is a public entity separate and apart from the program participants, and “its debts, liabilities and obligations do not constitute debts, liabilities or obligations of any party to the joint powers agreement.” Members are not responsible for any repayment of debt by borrowers, nor are they named in any of the bond documents.

Question 6

What programs are available to public agencies?

Accepted Answer

• K-12 Funding
 • Clean Energy Financing
 • Equipment Leasing
 • Water/Wastewater Financing
 • Developer Impact Fee (DIFF) Financing 
 • Community Facility District (CFDs) Financing 
 • Capital Improvement Project (CIP) Financing
 • Pooled Bond Financing
 • Pension Financing
 • Grant Procurement
 • P-3 / Private Activity Bond Financing

Question 7

What programs are available to private or non-profit organizations?

Accepted Answer

• Charter School Financing
 • 501(c)(3) Nonprofit Bonds
 • Multifamily and Senior Housing Bonds
 • Exempt Facilities / Solid Waste / Recycling Facilities and Equipment Bonds
 • Workforce Housing Financing
 • Taxable Bonds

FAQs

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