Municipal Finance Journal

Volume 19, Number 4
Winter 1999
Editor: W. Bartley Hildreth

Publication Policies and Information for Authors

iV

Editor's Note

V

Financing Jails with Revenue Bonds: An Empirical Assessment
Dwight Denison, Merl Hackbart, and James Ramsey

1

Competitive Bidding for Municipal Bonds: New Tests of the Underwriter Search Hypothesis
Paul A. Leonard

18

Subsidized Borrowing and the Discount Rate: The Case of Municipal Capital Budgeting and Financial Management
Andrew Kalotay and Bruce Tuckman

38

The Resurgence of Federalism:
The Case for Tax-Exempt Bonds
Maxwell A. Miller and Mark A. Glick

46

Report of the California Interagency Municipal Securities Task Force
Matt Fong

75

Accounting Developments:
GASB Update
Catherine L. Staples

99

Tax Law Developments:
Washington Update
Paul Streckfus

103