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Bond Calendar 
Created in 2010, the Kentucky Bond Corporation (KBC) was formed by the Kentucky League of Cities (KLC) to assist municipalities access the fixed rate bond market. KBC was formed through an inter-local agreement to facilitate the issuance of fixed rate bonds with terms from 5-30 years and in amounts as small as $250,000. RSA serves as municipal advisor to the pooled bond program assisting borrowers to secure financing for new construction projects and the refinance of existing debt. Participants benefit from KBC’s AA- rating from Standard & Poor’s and the reduced costs from the economies of scale by participating with other borrowers in the program. KBC borrowers can utilize either a general obligation pledge or revenue pledge to secure their financing and the interest rates are determined by a competitive bond sale. No letters of credit or bond insurance is required and the pool does not use derivatives or interest rate swaps.
The Kentucky Bond Development Corporation (KBDC), a nonprofit corporation, was formed in 2014 by the Kentucky League of Cities to provide conduit financing for member sponsored projects. KBDC was formed by an interlocal agreement under Kentucky and Federal tax law and is considered a political subdivision of Kentucky. KBDC was created to be the issuer for conduit financings primarily for nonprofit corporations including hospitals, independent educational institutions and other 501c(3) corporations including tax increment financing bonds and public private partnership bonds. KBDC bond issues can be structured in many ways including but not limited to negotiated, rated, non-rated term and serial bonds. In certain circumstances, KBDC may obtain bank qualification status from other participating municipalities making projects bank eligible. RSA serves has proudly served as municipal advisor to KBDC since its inception.
The Kentucky Interlocal School Transportation Association (KISTA) is a not-for-profit association of Kentucky school districts. KISTA was formed by a group of superintendents with the intention of providing school districts with a financing tool for purchasing school buses. RSA was instrumental in the formation of KISTA and serves as its Financial Advisor. KISTA expanded its program to include technology financing and a new program focused on energy improvement projects.
New Bus Program
Each year KISTA offers this program to school districts to finance the purchase of new school buses and take advantage of tax-exempt financing rates. To date, KISTA has financed over 3,600 school buses totaling more than $210 million.
Used Bus Program
KISTA also offers a pooled auction for selling used buses. This program gives districts access to used bus vendors nationwide through a sealed bid which affords better prices for their used buses.
New Market Tax Credit Program (NMTC)
In 2005, RSA worked with KISTA to receive an allocation of federal tax credits which allowed for a $25 million pool of 0% interest, seven year loans. Loans were made to school districts in Kentucky and were used to fund technology for “intelligent classrooms.”