Standardized Bond Documents Saves Thousands in Taxpayer Dollars

About the Program

Category: Financial Management (Best in Category)

Year: 2015

The County of San Diego Treasurer-Tax Collector’s (TTC) office provides investment management and paying agent services to the County’s 42 school districts and community college districts (the Districts) in their bond issuance process for the purposes of new building construction and other capital improvements. In an effort to streamline the process, TTC has developed standardized agreements with regards to TTC’s roles as investment manager and paying agent. The development of these standardized legal documents has increased efficiency for both the County and the Districts. With consultation from the County’s bond counsel, the agreements clarify terms and conditions of each party involved. More importantly, the standardization of these documents, which were otherwise left to be individually drafted by outside bound counsel, saves taxpayers thousands of dollars each year. The introduction of these standardized documents has significantly reduced time and money spent on reviewing documents. These standardized documents have been posted on the TTC website and are currently distributed by our partners at FG3 as we continue to encourage the Districts and their financing team to adopt the use of these documents.