State and Local Government
Credit and Liquidity Facilities
While the economy is recovering, the lasting impact to budgets on depressed property values and reduced sales tax volumes continue to stress state and local governments. J.P. Morgan can provide creative solutions to help finance your capital and cash flow needs. We tailor each facility to meet your specific needs and have vast experience with local laws in the states in which we operate.
J.P. Morgan's broad array of financial solutions enables government entities at all levels to leverage our team's experience and knowledge to achieve the most competitive pricing and appropriate credit terms for their specific needs.
Direct Lending and Direct Purchase Bonds - J.P. Morgan provides financing to state and local governments via an active Direct Purchase Bond Program. Whether you are issuing Sales Tax Revenue Bonds, a General Obligation Bond, a Certificate of Participation, a Water Revenue Bond or any other source of security, J.P. Morgan can help by acting as the Purchaser for your facilities.
Letters of Credit and Standby Bond Purchase Agreements and Commercial Paper Backup Facilities - J.P. Morgan has vast experience in providing bond enhancements and liquidity management in support of variable rate bond transactions and commercial paper programs. Our credit rating enables our clients to benefit some of the lowest trading rates in the market.
Equipment Financing - Complete equipment financing structures to meet state and local governments' financial objectives including full financing, tax-exempt interest rates, tailor-made payment structures, and low transaction costs. From fire engines to police vehicles, from computer systems to medical equipment, from aircraft to energy upgrades, Chase Equipment Finance can help craft a structure to meet your needs on an appropriation, abatement or installment purchase agreement basis.
Tax Anticipation Notes and Bond Anticipation Notes - Tailored, short-term financing allows state and local governments to meet current obligations by providing immediate liquidity in anticipation of future tax receipts or permanent bond financing.
Lines of Credit - When authorized by state statute, J.P. Morgan offers lines of credit to meet capital needs.