In May, 2010 Rocky River voters approved a $42,900,000 bond issue for various capital improvements throughout the District. In advance of that election, Sudsina & Associates was engaged to assist with the underwriter selection, to guide the rating process and to oversee the ultimate pricing of the bonds. Fortunately the bond issue was approved during the era of federal stimulus programs that allowed the District to take advantage of both Build America Bonds (BABs) and Qualified School Construction Bonds (QSCBs). Both stimulus programs allowed the District to issue taxable bonds for which the federal government would return to the District an interest subsidy to offset interest expense on the bonds. QSCBs will return 100% of the interest expense to the District while BABs wil

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