Within the general framework of a multifactor term structure model, the fundamental partial differential equation (PDE) satisfied by a default-free zero-coupon bond price is derived via a martingale-oriented approach. Using this PDE, a result characterizing a model belonging to an exponential affine class is established using only a system of…

It is hard to win passage of a school construction bond--whether through a citizen referendum or the vote of a town council or general town meeting. Property owners' resistance to tax increases remains strong. Sizable segments of any local community--senior citizens, childless adults, parents who send their children to private school, and…

Instead of selling the idea of a new middle school building, an Ohio school district engaged people in an 18-month conversation about community financial and educational needs. The plan succeeded, due to unconventional leveraging strategies, full staff participation, elimination of diversions, involvement of community leaders, personalized…

Describes efforts to enlist community support for a bond referendum to build two new elementary schools in Lunenburg County, Virginia. Recommends (1) establishing a grassroots organization; (2) emphasizing moral issues; (3) stressing needs of the school system; (4) orienting the campaign toward the future; (5) starting the campaign early; and (6)…

Discussion of problems associated with using bond funding for library acquisitions focuses on experiences at Louisiana State University. Topics addressed include books as collateral; partial payment problems; collateral-based restrictions; taxes; invoicing; delayed payment; and recommendations for how to prepare for bond funding of library…

Describes local, state, and federal school infrastructure funding options. Local funding options include bond issues, special local-option sales taxes, and voter-approved mills and sinking funds. Describes use of federal Qualified Zone Academy Bonds. (PKP)

Colorado's College Opportunity Fund is an educational program that affords public universities greater administrative freedom while diminishing financial support from the state. Under the new system, students receive stipends from government while universities are allowed greater freedom setting tuition and issuing bonds. This article discusses…

A small district in New Jersey didn't wait for possible federal or state funds. Instead, it floated a special bond to cure its asbestos problems. (Author)

A Waconia, Minnesota superintendent involved in constructing a new high school found that designing a successful music suite depended on building community support, understanding the music suite's special needs, and managing compromise and communication. A participative planning process allowed considerable input on decisions concerning acoustics,…

Describes how many school districts are dealing with the problem of funding high school athletics and extracurricular activities in times of declining state and local budget revenues. Solutions involve program cuts, "pay for play" fees, fund raisers, and tax referenda. (PKP)

Describes Boonton (New Jersey) School District's campaign to raise $6.1 million to renovate three schools. To convince people that the renovations were absolutely necessary for passing future inspections, the campaign committee used a slide tape presentation, two newsletters, a series of question-and-answer sheets, group presentations, and…

To launch a successful levy or bond issue, school leaders must check with school attorneys or professional associations regarding limitations on marketing activities, allow sufficient campaign time, actively cultivate the press, and involve officers of all district parent organizations. Administrators should arrange for teachers, board members,…

Describes Park City (Utah) School District's strategy for convincing its tax-resistant citizens to pass two expensive bond issues for educational facilities and technology. The key to success was a strong, broadly based, five-week campaign that focused on positively inclined voters, provided detailed information, separated ballot issues, stressed…

Describes how one Los Angeles County school district successfully passed a school bond referenda. Includes a list of six strategies. (PKP)

Describes how a Kansas school district obtained voter approval of a $21.5 million bond issue nine months after a successful $13.5 million tax increase. Provides tips on organizing a referendum campaign and managing the money once approved. The keys are seeking high interest-bearing accounts, knowing past spending patterns, and campaigning for a…