First Public®
First Public provides school districts with flexible financing and investment options specifically designed for governmental entities. Wholly owned by TASB, First Public is a registered broker-dealer with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority (FINRA), Municipal Securities Rulemaking Board, and Securities Investor Protection Corporation.
Investments
Several investment options are offered to match clients’ diverse security, growth, and accessibility needs. Objective recommendations from First Public account managers help clients meet their investment goals while accommodating their unique liquidity requirements and risk tolerance.
First Public administers the Lone Star Investment Pool. The objectives are safety of principal, liquidity, and providing local governments with the highest possible rate of return. Lone Star offers three distinct overnight liquidity investment options.First Public also offers flexible repurchase agreements for investment of bond proceeds. Benefits include nonfluctuating market values, continuous liquidity of funds without adjustment or penalty, fixed interest rate over the life of the contract, competitive earnings, and customized terms built to meet user needs.
Services of First Public’s fully equipped fixed-income desk include the following:
- Educating local governmental entities on authorized fixed-income products
- Executing individual securities
- Performing objective analysis of clients’ individual securities portfolio
Financing
The First Public Financing Program provides low-interest financing and underwriting for new construction, personal property, renovations, maintenance, and operation expenditures through varied financing tools, such as lease-purchase agreements, maintenance tax notes, and tax anticipation notes. By providing financing for purchasing and operation expenses, First Public helps school districts respond to funding needs that occur throughout the fiscal year.