Bond Administration Services The Argus team routinely performs the role of administrator on a variety of bond financings. In this role, we assist the client in estimating the amount of revenues to be produced by the TIF and calculate any special assessments that may need to be levied. Governmental entities have the ability to tap into the revenues produced by their TIFs, CDAs, SIDs and special assessment structures to finance public improvements. Very often, this is accomplished through a revenue bond issue, the debt service charges for which are secured by payments in lieu of taxes, special assessments, community development charges or a combination of the same. In the case of TIF financings, payments in lieu of taxes are the primary source of security for the bonds. However, because payments in lieu of taxes are speculative, and dependent on new development occurring in the area, it is not uncommon for special assessments to be levied to cover any shortfalls and enhance bondholder security. These types of financings require that certain administrative duties with respect to the bonds be performed by an independent party, the administrator. Argus’ bond administration team works with you to: Examine financing documents to identify applicable covenants Determine the amount necessary to pay annual debt service charges and expenses on the obligations Estimate the amount of payments in lieu of taxes that will be available to pay annual debt service charges and expenses on the obligations Compute annual shortage and/or surplus in payments in lieu of taxes as compared to annual debt service charges and expenses on the obligations Calculate special assessments, if any, necessary to be imposed to cover any shortfall in payments in lieu of taxes Certify the special assessments for inclusion on the general tax list and duplicate Assist with the collection of delinquent special assessments Prepare annual reports detailing all calculations and their compliance with financing documents Assist with the preparation and filing of continuing disclosure and other post-issuance compliance information required under the financing documents and federal tax and securities laws