City of Los Angeles, California Conducts Largest-Ever Open Note Auction
June 26, 2007The City of Los Angeles, California, utilized Grant Street Group’s patented Internet auction platform to take competitive bids for $916 Million in Tax and Revenue Anticipation Notes. Twelve financial institutions participated in the open auction in which 62 bids were submitted. In fact, bidder competition was so keen that the auction extended for over six… Read more »
Grant Street Group Hosts Bond Auction for Commonwealth of Pennsylvania
May 22, 2007The Commonwealth of Pennsylvania conducted a $373 million competitive G.O. bond sale on Grant Street Group’s MuniAuction website. Six Wall Street firms participated in the sale. During the course of the Open Auction, a total of 12 bids were submitted and the auction was extended for over 4 minutes from its scheduled end time. Commonwealth… Read more »
Grant Street Group Hosts the First Ever Electronic Auction of Convertible CABs
May 10, 2007Grant Street Group hosted the first ever electronic auction of Convertible CABs on its MuniAuction platform for the City of Perth Amboy, NJ. The $41.7 million of Bonds will initially be issued as Capital Appreciation Bonds, but will convert to Current Interest Bonds in 2012. The TIC calculation factored not only the purchase price and… Read more »
Zions Bancorporation Uses Grant Street Group Developed Site To Complete Successful ESOARS Auction
May 8, 2007Zions Bancorporation announced today that it has successfully completed its auction of Employee Stock Option Appreciation Rights Securities (ESOARS). Forty-three bidders participated in the auction for 99,418 ESOARS units. The market-clearing price was $12.06 per unit. ESOARS units were allocated to 21 bidders. A complete summary of the bidding, as well as further information about… Read more »
Grant Street Completes Successful Implementations of TaxSys® in Florida
December 12, 2006In the fall of 2006, Grant Street Group completed the successful implementation of TaxSys® in three Florida Counties, representing 445,055 parcels and 72,036 active Occupational Licenses. TaxSys is a state of the art full service tax collection and billing system for Real Estate, Tangible Personal Property, Occupational Licenses and Tourist & Development Taxes. It is… Read more »
Grant Street Completes Successful Implementations of TaxSys® in Florida
In the fall of 2006, Grant Street Group completed the successful implementation of TaxSys® in three Florida Counties, representing 445,055 parcels and 72,036 active Occupational Licenses. TaxSys is a state of the art full service tax collection and billing system for Real Estate, Tangible Personal Property, Occupational Licenses and Tourist & Development Taxes. It is… Read more »
We Have the Responsibility to Make GICs an Honest Market
December 11, 2006The Bond Buyer – Letter to the Editor December 11, 2006 Nearly two years ago (Jan. 25, 2005) — The Bond Buyer published my letter to the editor: “Technology is the Ultimate Solution to GIC Bid Rigging.” In it I voiced my concerns regarding the old-fashioned, non-transparent process by which bids for GICs are received… Read more »
Grant Street Group Develops ESOARS Auction Website For Zions Bancorporation
June 29, 2006Zions Bancorporation announced today that it has successfully completed the first auction of Employee Stock Option Appreciation Rights Securities (ESOARS). Fifty-seven participants submitted 1,149 bids in the auction, held on June 28 and 29, for 93,610 ESOARS units. The market-clearing price was $7.50 and ESOARS units were allocated to 21 bidders. A complete summary of… Read more »
Grant Street Completes Third Year of Tax Lien Auctions
June 13, 2006Last week, Grant Street Group completed its third year of hosting internet auctions of tax lien certificates. In 2004, Grant Street’s LienAuction was the first-ever website to host tax lien auctions over the internet when four Florida counties Miami-Dade, Okaloosa, Orange and Volusia — conducted sales. Since then, Grant Street has hosted internet auctions for… Read more »
West Virginia Treasurer Conducts Internet Auction for CDs
May 16, 2006West Virginia State Treasurer John Perdue and the affiliated Board of Treasury Investments conducted an on-line auction today, investing nearly $25 million in certificates of deposit with West Virginia banks. The auction was held on West Virginia’s private-label website (www.BidWVauction.com) created by Grant Street Group. West Virginia joins 9 other states that utilize Grant Street’s… Read more »