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Miami-Dade County Public Schools Continues its Commitment to Financial Disclosure with Launch of New
May 8, 2018
BondLink today announced that Miami-Dade County Public Schools, the nation’s fourth-largest school district, has launched an investor relations website: DadeSchools.BondLink.com. The site is designed to drive investor participation in the school district’s municipal bond financing, and is part of its continued efforts to enhance transparency and optimize investor engagement.
“Leveraging technology to deliver the M-DCPS financial story to its stakeholders is paramount,” Miami-Dade Schools Treasurer Tony Vu said. “We are a Fortune 500-sized organization that is limited by legislation through shrinking resources, growing mandates and tighter regulations. By partnering with BondLink, the district is confirming its commitment to transparency while increasing investor participation. Through this partnership, we expect to decrease borrowing costs to benefit all of our students, teachers and parents.”
The new investor platform is powered by BondLink, a Boston-based financial technology company that provides investor outreach solutions to issuers in the $4 trillion municipal bond market. BondLink currently handles engagement programs for issuers across the U.S., including California, Chicago and the University of Texas. The company was co-founded by Colin MacNaught, a former issuer for the Commonwealth of Massachusetts.
“There's nothing more important in this country than public education," said MacNaught, BondLink CEO. "We are excited to partner with Miami-Dade to help them finance schools and facilities for their students much more efficiently. Every penny that we can help them save by attracting more investors to their bond program is another penny that can be put back into the classrooms.”
With more than 10,000 of pages of data and documents, Miami-Dade’s site features a corporate-style investor platform that provides insight into the key financial details behind its excellent credit ratings. The easy-to-navigate website will make credit and project details easily digestible for smaller retail investors, such as Miami-Dade residents, and the platform’s tools will provide a new model of credit surveillance for large institutional investors. Both large and small buyers have the option to register for alerts as new documents and sales are added to the site.
Academic research published by the Brookings Institution draws a causal link between improved disclosure and improved borrowing costs, which is ultimately the long-term goal of an investor outreach site. BondLink’s technology and tools facilitate the school district’s engagement with bondholders and potential investors, enhance its transparency to the market, and help broaden and diversify its investor pool. Additionally, using a dedicated investor website for disclosure aligns with best practices guidance from the Government Finance Officers Association.
Miami-Dade comprises 392 schools, 345,000 students and over 40,000 employees. Located at the southern end of the Florida peninsula, the school district stretches over 2,000 square miles of diverse and vibrant communities ranging from rural and suburban to urban cities and municipalities. A truly global community, district students speak 56 different languages and represent 160 countries.