Editor's Note
W. Bartley Hildreth

Explaining Bids in First-Price Bid Competitive Auctions for City and County Debt
Mikhail Y. Ivonchyk and Tima T. Moldogaziev

From NIC to TIC to RAY:
Estimating Lifetime Cost of Capital for Municipal Borrowers
Martin J. Luby and Peter Orr

The History and Justification for Timely Payment of Statutory Liens and Pledged Special Revenues Bond Financing in a Chapter 9 Municipal Debt Adjustment Proceeding:
Is a Model State Law Necessary or Required?
James E. Spiotto