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Performance Details

Department of Revenue - Municipal Bond Bank Authority

Mission

The mission of the Alaska Municipal Bond Bank is to provide municipalities with financing options for capital projects.

Core Services

  • Provide expertise and the lowest cost financing for Alaska's authorized borrowers that either diminish administrative burden of borrower, diminish the cost of borrowing, or both.
Arrow GraphicMission Results Core Services
A: Authorized borrowers will lower their cost of financing or diminish administrative effort  Details >
  • TARGET #1: 100% of new financings will result in savings or diminished administrative effort.
A1: Provide expertise and the lowest cost financing for Alaska's authorized borrowers that either diminish administrative burden of borrower, diminish the cost of borrowing, or both.  Details >
  • TARGET #1: The Bond Bank will finance 100% of the deals done statewide by authorized borrowers with less than Baa1 ratings.

Performance Detail


A: Result - Authorized borrowers will lower their cost of financing or diminish administrative effort
    
Target #1: 100% of new financings will result in savings or diminished administrative effort.

New Financings That Resulted in Savings
Fiscal Year Percent Aggregated Savings
FY 2019
100%
$4.3 million
FY 2018
100%
$3.4 million
FY 2017
100%
$41.2 million
FY 2016
100%
$75.3 million
FY 2015
100%
$25 million
FY 2014
100%
$12.7 million
FY 2013
100%
$19.6 million
FY 2012
100%
$17.2 million
FY 2011
100%
$13.6 million
FY 2010
100%
$9.6 million

Analysis of results and challenges: In each fiscal year shown, all authorized Alaskan borrowers that borrowed funds through the Alaska Municipal Bond Bank Authority are projected to be paying less debt service (realized savings) than they otherwise might have using other means of financing their project or diminished the administrative burden of their staff.

A1: Core Service - Provide expertise and the lowest cost financing for Alaska's authorized borrowers that either diminish administrative burden of borrower, diminish the cost of borrowing, or both.
    
Target #1: The Bond Bank will finance 100% of the deals done statewide by authorized borrowers with less than Baa1 ratings.

Statewide Municipal Bond Deals Financed by AMBBA
Fiscal Year Bonds Issued (millions) # of Loans # of Communities
FY 2019
$50.4
9
7
FY 2018
$31.2
1
1
FY 2017
$255.0
27
18
FY 2016
$233.0
16
10
FY 2015
$175.6
27
19
FY 2014
$178.5
12
7
FY 2013
$152.3
16
10
FY 2012
$149.4
32
20
FY 2011
$115.4
13
11
FY 2010
$102
12
10

Analysis of results and challenges: AMBBA programs are reliant on third party factors. Bond deals financed by AMBBA are based on authorized borrower demand and the credit rating of AMBBA is based on the State of Alaska's.

 

Current as of December 18, 2019