Municipal Finance Journal

Volume 25, Number 1
Spring 2004
Editor: W. Bartley Hildreth

Publication Policies and Information for Authors

iV

Editor’s Note

Vii

Municipal Bond Auctions and Borrowing Costs Mark D. Robbins, Bill Simonsen, and Christine Rocco

1-16

The Value of the Advance Refunding Option and the Refunding Efficiency of Tax-Exempt Municipal Bonds
Wei David Zhang and Jinliang Li

17-31

Political Risk and Credit Quality Charles Nellans, Timothy Blake, David Blair
Chris Sperry, and Joe Stewart

33-46

Pensions and Other Retirement Costs:
A Ticking Time Bom Joseph Mason, Keith Brainard, Larry Langer
Parry Young, and Anne G. Ross

47-70

Accounting Developments:
GASB Update
Catherine L. Staples

71-80