|The following sessions are part of a joint plenary session for IMN's 16th Annual Public Funds Summit, 3rd Annual Distressed Investment Summit,
1:41 AMWelcome From:
Cheryl Johnson Watts, Senior Vice President and Conference Producer, INFORMATION MANAGEMENT NETWORK Tim Bailey, Conference Producer, INFORMATION MANAGEMENT NETWORK
1:41 AMChairpersons' Opening Remarks
1:41 AMKEYNOTE ADDRESS - THE GLOBAL CREDIT MARKETS
• European Credit Crisis, Sovereign & Financials Opportunity • High-Yield Market, Investment Outlook • Structured Credit Market • Macro developments that influence the credit markets
9:10 AMSPECIAL PRESENTATION
1:41 AMGENERATING POWER, GENERATING RETURNS: THE INVESTMENT IMPLICATIONS OF THE ENERGY DILEMMA
Despite much media attention to energy conservation and alternative sources, the only constant in our country’s relationship to energy usage is a continually increasing upward trend line in consumption. The financial markets surrounding existing and new sources of energy have evolved tremendously and demand the attention of consumers, investors and legislators alike. This session will provide an overview of both the search for energy and the investment opportunities available to the institutional investor seeking to participate in this macro theme.
1:41 AMNetworking Refreshment Break
1:41 AMCALIFORNIA’S ECONOMY: CONTINUING BUDGET CRISIS AND ELECTORAL IMPACT
With November 2010’s elections came new leadership at the state, local and national levels. How will the changes in the electoral landscape affect California, and what can be expected from government to address the continuing fiscal crisis? Experts give their thoughts on the state of California’s economy, and what progress can be expected in the coming years.
1:41 AMCALIFORNIA'S LONGER-TERM FISCAL PICTURE: IMPLICATIONS FOR BONDS
1:41 AMASSET MONETIZATION: PRUDENT STRATEGY OR SHORT-TERM BAND-AID?
In the midst of a fiscal crisis, municipalities are looking into the sale of public facilities to generate revenue. Assets including parking garages, water facilities and offices are among those being considered for sale/lease-back arrangements, with the Golden State Portfolio a prime example. How can municipalities be assured of maximizing the benefit of these transactions, and what are the short and long-term prospects for converting public facilities into a reliable revenue stream?
1:00 PMNetworking Luncheon
2:00 PMChairperson's Recap
2:05 AMBUILD AMERICA BONDS: REVIEW AND FUTURE PROSPECTS
Congress did not extend the Build America Bonds scheme, which ended at the close of 2010, yet the program’s popularity led to many calls to prolong BABs beyond their original expiration date. This panel examines the reasons for the popularity and success of the scheme, while considering any caveats. The panel will then consider the future for BABs, and ask whether a return for the program could be on the cards.
3:10 AMCREDIT RATINGS: RECENT CHANGES AND 2011 OUTLOOK
Following the economic crisis, some rating agencies have revised their practices and updated their methodology for rating state governments and municipal bonds. This session will review the recent changes within the ratings industry, and how they may impact public finance within California at the state and local level. The panel will also examine current credit markets in California, and a national perspective.
1:41 AMNetworking Refreshment Break
1:41 AMLOCAL GOVERNMENT ROUNDTABLE: STRATEGIES TO SURVIVE AND SUCCEED IN THE MIDST OF THE FISCAL CRISIS
Representatives from local government authorities discuss the current market conditions, and the approach taken across California to cope during a crippling budgetary crisis. What are the areas in the most pressing need of investment or development? How are municipalities dealing with outdated infrastructure and water crises? And what tactics can be employed by government decision-makers to cope with continuing budgetary cuts?
1:41 AMSPOTLIGHT ON EDUCATION: ANALYSIS OF K-12 PUBLIC SCHOOL EXPENDITURE
The Davenport Institute at the Pepperdine University School of Public Policy has released a report analyzing the expenditure patterns of over 950 K-12 public school districts in California. The report provides a five year time series look at operational spending by each of the school districts, as well as summary statewide spending patterns. The report analyzes the wide variation between school districts with regard to such things as student-teacher ratios and expenditures for administrative functions, as well as the huge disparities between districts in revenue apportionment. It is already informing the political debate in Sacramento over state and local public finances in California. The authors of the report, Steven B. Frates and Michael A. Shires, will provide an overview of key findings and answer audience questions.
6:00 PMNetworking Cocktail Reception
7:00 AMDay One Concludes
Wednesday, February 10th, 2016
1:41 AMContinental Breakfast and Registration
1:41 AMChairpersons’ Recap
1:41 AMTHE ROLE PLAYED BY PUBLIC PRIVATE PARTNERSHIPS IN MUNICIPAL FINANCE STRATEGY
A look at how infrastructure projects, community revitalization and investment opportunities can be strengthened with public private partnerships, a key feature in former Governor Arnold Schwarzenegger’s economic policy. Featuring case studies, including Caltrans’ public private partnerships to develop roads, bridges, tunnels and other transit projects, plus an overall view, the panel will examine what role private sector investment can play in local government strategy.
1:41 AMTAX-EXEMPT BONDS AND REGULATORY UPDATE
An examination of the tax-exempt bond market; with a look at traditional tax-exempt bonds, and those included as part of the American Recovery and Reinvestment Act. With investor demand still high for tax-exempt bonds, what tips can issuers take from the market, and how does the tax-exempt market compare to taxable bonds such as the popular Build America Bonds program? In addition, with wide-ranging regulatory changes to U.S. financial markets on the cards following a period of severe economic downturn, what are the implications for tax-exempt bonds, and what further legislative changes can be expected in the year ahead? What other key legislative changes should municipal finance issuers and investors be aware of? Our panel examines the state of the market in 2011, and analyzes recent regulatory changes.
10:00 AMNetworking Refreshment Break