43-544: Minority Enrollment 70% 34% White 30% Black 24% Latino/Hispanic 5.8% Asian 4.8% 2 or more ethnicities The Cobb County School District (CCSD) is the school district which operates public schools in Cobb County, Georgia , United States. The school district includes all of Cobb County except for the Marietta City Schools , though a number of schools in unincorporated parts of the county have Marietta addresses. It
86-543: A muni , is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation. Typically, only investors in the highest tax brackets benefit from buying tax-exempt municipal bonds instead of taxable bonds. Taxable equivalent yield calculations are required to make fair comparisons between
129-477: A "when issued" market, and also immediately after they are issued. Once the bonds find their way into retail and mutual fund portfolios, the volume of trade drops off dramatically. The MSRB reports that from March 1998 to May 1999, 71% of the outstanding issues did not trade at all. A 2005 study concluded that 4–6 months after issuance, less than 10% of the sampled bonds traded at all; the probability then rises somewhat so that by four years from issuance, roughly 15% of
172-446: A discount. While minimum denominations contribute to illiquidity, another such reason is the total amount of municipal bonds outstanding. There are over 1,500,000 individual municipal CUSIPs representing over 50,000 issuers. To put this into context, there are ~4300 US domestically incorporated exchange-listed stocks and 10,500 stocks that trade over-the-counter . Over the last decade, technology solutions have been applied to make
215-515: A field goal with a minute left in the game, going down 24-21, and returning the subsequent kickoff to Milton's 28 yard line, only to throw a pick six on the very next play, and the game would end 31-21 in Milton's favor. In 2002, Cobb County School District voted to put stickers on textbooks with a message including the admonition cautioning students that "evolution is only a theory." Plaintiffs brought suit on separation of church and state grounds, with
258-539: A lawsuit against the Cobb County School District for discrimination. The district administers these 17 government high schools: The original Clarkdale Elementary School was a Cobb County school that opened in the 1960s and closed on September 21, 2009, due to the massive flooding in Georgia that day, which submerged the school to the ceiling in the waters of nearby Noses Creek . Despite being built outside
301-413: A municipal bond is calculated as follows. Where r m = interest rate of municipal bond, r c = interest rate of comparable corporate bond and t = investor's tax bracket (also known as marginal tax rate): For example, assume an investor in the 38% tax bracket is offered a municipal bond that has a tax-exempt yield of 1.0%. Using the formula above, the municipal bond's taxable equivalent yield
344-443: A municipal bond sale to be spent on capital projects within three to five years of issuance. In the United States, although not all municipal bonds are tax-exempt, most are. Tax-exempt securities represented about 80% of trading volume in U.S. municipal bonds in 2020. Interest income from most municipal bonds is excludable from gross income for federal income tax purposes, and may be exempt from state income tax as well, depending on
387-458: A proposal are issued in series over a period of time, in order to allow contractors a steady stream of work and the jurisdiction to not be overwhelmed in managing too many projects at once. Before a particular municipal bond is offered to the public, the issuer must publish an "official statement" disclosing material information about the offering. Key players in the issuance process include: Tax regulations generally require all money raised by
430-399: Is 1.6% (0.01/(1-0.38) = 0.016) - a figure which can be fairly compared to yields on taxable investments such as corporate or U.S. Treasury bonds for decision making purposes. Typically, investors in the highest tax brackets benefit from buying tax-exempt municipal bonds instead of taxable corporate bonds, but those in the lowest tax brackets may be better off buying corporate bonds and paying
473-501: Is among the risks evaluated by a rating agency , which assigns a credit rating to the bond. Credit ratings are generally the starting point buyers use when deciding how much to pay for a municipal bond. Historical default rates have been lower in the municipal sector than in the corporate market. This may be due in part to the fact that some municipals are backed by state and local government power to tax, or revenue from public utilities. However, sharp drops in property valuations (as in
SECTION 10
#1732854808264516-505: Is the second-largest school system in Georgia (behind only Gwinnett County Public Schools ) and 23rd largest in the United States. The district is the county's largest employer and one of the largest in the US (at least in school systems). All Cobb County schools are accredited by Cognia (education) , and the district is among the first to have earned district-wide accreditation . The superintendent of
559-509: The 100-year flood plain , water rose ankle-deep on the grounds as the children were being evacuated . The school housed about 450 students. For three school years , these students attended Compton Elementary (K-2) and Austell Intermediate (3–5). The new Clarkdale Elementary opened in mid-August 2012 near Cooper Middle School (although the Federal Emergency Management Agency declared the original site acceptable), while
602-547: The 2009 mortgage crisis ) can strain state and local finances, potentially creating municipal defaults. Harrisburg, PA, when faced with falling revenues, skipped several bond payments on a municipal waste to energy incinerator. The prospect of municipal bankruptcy was raised by the Controller of Harrisburg, although it was opposed by Harrisburg's mayor. Default risk to the investor can be greatly reduced through municipal bond insurance, which promises to pay interest and principal if
645-548: The Blackwells community was built in the 1920s on Canton Road (old Georgia 5 ), as the county's first consolidated school. The historic schoolhouse, and all of its later additions, were destroyed in summer 1997 and closed for a year while a new replacement was built on the same site, in an institutional style much like the plain architecture of an office park rather than a historic school. The original Mountain View Elementary
688-543: The Local Government Funding Agency (LGFA), is the second-biggest issuer of New Zealand-dollar debt behind the government. Local governments in China were not permitted to issue bonds in the open market until 2015, and historically these governments relied on local government financing vehicles as a major source of debt finance. By the end of 2022 a total of CN¥35.1 trillion of bonds were outstanding. In India,
731-735: The United States There is one provider of public education in the State of Hawaii, the Hawaii Department of Education (HIDOE), dependent on the Hawaiian state government. The word "school districts" in Hawaii is instead used to refer to internal divisions within HIDOE, and the U.S. Census Bureau does not count these as local governments. Municipal bond A municipal bond , commonly known as
774-530: The American Civil War, significant local debt was issued to build railroads. Railroads were private corporations, and these bonds were very similar to today's industrial revenue bonds . Construction costs in 1873 for one of the largest transcontinental railroads, the Northern Pacific , closed down access to new capital. Around the same time, the largest bank of the country of the time, which was owned by
817-1095: The Congress could tax interest income on municipal bonds if it so desired on the basis that tax exemption of municipal bonds is not protected by the Constitution. In this case, the Supreme Court stated that the contrary decision of the Court in Pollock had been "effectively overruled by subsequent case law". The Revenue Act of 1913 first codified exemption of interest on municipal bonds from federal income tax. The Tax Reform Act of 1986 greatly reduced private activities that may be financed with tax-exempt bond proceeds. The United Kingdom 's UK Municipal Bonds Agency (UK MBA) provides services for borrowing by municipalities. Canada has CIBC . Municipal bonds agencies also known as Bond banks or Local government funding agencies exist in other countries, such as Sweden and Finland. In New Zealand,
860-590: The Port of New York Authority, formed in 1921 and renamed Port Authority of New York and New Jersey in 1972, and the Triborough Bridge Authority (now the Triborough Bridge and Tunnel Authority), formed in 1933. The debt issues of these two authorities are exempt from federal, state and local governments taxes. The basic types of municipal bonds are: Depending on the jurisdiction and the basis for issuing
903-449: The alternative minimum tax as an item of tax preference. Municipal bonds' coupon rates are generally lower than those of comparable corporate bonds, but higher than those of their FDIC-insured counterparts: CDs, savings accounts, money market accounts, and others. Historically, municipal bonds have been one of the least liquid assets on the market. One indicator of this is their infrequent trading. Municipal bonds are actively traded in
SECTION 20
#1732854808264946-511: The applicable state laws. Internal Revenue Code section 103(a) is the statutory provision that excludes interest on municipal bonds from federal income tax. As of 2004 , other rules, however, such as those pertaining to private activity bonds, are found in sections 141–150, 1394, 1400, 7871. The state and local exemption was the subject of litigation in Department of Revenue of Kentucky v. Davis . Bonds issued for certain purposes are subject to
989-444: The bond, voter approval may be required, especially if a property tax levy is involved. Some bonds, for minor projects or emergency situations, may be issued without voter pre-approval. But in all cases, public input (whether a vote, or the opportunity to speak for or against issuance at a public hearing) is required. Voter approval of the bond proposal does not automatically result in the bonds being issued. Frequently, bonds under
1032-511: The bonds in the sample traded at least once during a given month. A 2007 study concluded that the average investment grade tax exempt 1-10 year municipal bond traded 21 times over its 11-year sample and 5.65% of issues only traded once. Unlike corporate and Treasury bonds, which are more likely to be held by institutional investors, municipal bond owners are more diverse, and hence harder to locate, giving this market less liquidity. Compared to stocks, municipal bonds are much harder to maneuver. At
1075-512: The district outside of the board's purview or approval. On August 16, 2024, Ragsdale banned 13 more books. On July 19, 2024, Ragsdale revealed a list of books banned since August 2023. It was also reported that he lashed out at The Marietta Daily-Journal for publishing information about his bans. The list focuses heavily on race, LGTBQIA+ topics and authors, and other topics Ragsdale deems "divisive" based on his interpretation of HB 1084 and SB 226. June 14, 2024 students and alumni announce joining
1118-476: The expected traffic and noise. The old East Cobb Middle School, located directly across Holt Road from Wheeler HS, will be home to a relocated Eastvalley Elementary School. Walton High School made a run to the GHSA State Championship for American football in 2023, looking to bring home their first-ever state championship, but would ultimately fall to Milton High School heartbreakingly after conceding
1161-714: The federal discrimination lawsuit against Cobb County School District, et al. [1] On May 14, 2024, the National Women's Law Center (NWLC) filed two complaints against the Cobb County School District for violations of Title IX of the Education Amendments of 1972 and Title VI of the Civil Rights Act of 1964. Ragsdale has previously responded that his bans are simply removals to protect children. On February 13, 2024, Katie Rinderle and other educators file
1204-422: The initial trial finding for the plaintiffs. Cobb County School District appealed and the verdict was overturned and remanded for a new trial, at which time plaintiffs and Cobb County School District reached an out-of-court settlement , with the district agreeing to remove the stickers. A Cobb County teacher was discovered to have had sex with a 17-year-old student. When brought to trial, the teacher pleaded that
1247-478: The issuer does not do so. Projecting the yield to maturity on municipal bonds usually involves incorporating tax brackets. Comparing the yield on a municipal bond to that of a corporate or U.S. Treasury bond can be misleading, because of differing tax treatment of the income from the two types of securities. For that reason, investors use the concept of taxable equivalent yield to compare municipal and corporate or Treasury bonds. The taxable equivalent yield on
1290-450: The market more responsive to investors, more financially transparent and ultimately easier for issuers and buyers. The emergence of small denomination municipal bonds makes the muni market more accessible to middle-income buyers. It is believed that these initiatives will reduce lower debt issuance costs. Default risk is a measure of the possibility that the issuer will fail to make all interest and principal payments, on time and in full. It
1333-431: The market-wide demand that an opinion of qualified bond counsel accompany each new issue. When the U.S. economy began to move forward once again, municipal debt continued its momentum, which was maintained well into the early part of the twentieth century. The Great Depression of the 1930s halted growth, although defaults were not as severe as in the 1870s. Leading up to World War II, many American resources were devoted to
Cobb County School District - Misplaced Pages Continue
1376-880: The military, and prewar municipal debt burst into a new period of rapid growth for an ever-increasing variety of uses. Today, in addition to the 50 states and their local governments (including cities, counties, villages and school districts), the District of Columbia and U.S. territories and possessions (American Samoa, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands) can and do issue municipal bonds. Another important category of municipal bond issuers which includes authorities and special districts has also grown in number and variety in recent years. The two most prominent early authorities were
1419-415: The previous building awaited demolition, a delay which the local neighborhood complained about. State funding (a bond for 20% of the cost of replacement) was vetoed by Governor Sonny Perdue on procedural grounds in early June 2010. Most of the remainder will be covered by insurance and leftover SPLOST funds. At least one other school has been demolished. The original Blackwell Elementary School in
1462-545: The same investor as that of Northern Pacific, collapsed. Smaller firms followed suit as well as the stock market. The 1873 panic and years of depression that followed put an abrupt but temporary halt to the rapid growth of municipal debt. Responding to widespread defaults that jolted the municipal bond market of the day, new state statutes were passed that restricted the issuance of local debt. Several states wrote these restrictions into their constitutions. Railroad bonds and their legality were widely challenged, and this gave rise to
1505-411: The same time, the minimum investment amounts for stocks are typically <$ 500 and about $ 1000 for CDs and money markets; in comparison, municipal bonds typically have minimum denomination buy-ins of $ 5000 but smaller issuers may have buy-ins of $ 1000 to incentivize local or regional investors. An investor's overall principal cost may be lower than the $ 5000 minimum denomination by purchasing the bonds at
1548-804: The school district is Chris Ragsdale. As a body created under provisions of the Georgia's constitution , the Cobb County Board of Education has full authority to control and manage the public schools within the county, excluding any independent school system. This means that like other school systems in the state, it is directly under the Georgia Department of Education and not subject to city or county government control. This also means that it has separate funding through its own property tax (except on senior citizens ) outside of Marietta city limits , and 1% county-wide sales tax which it splits with Marietta City Schools based on which jurisdiction it
1591-620: The student had consented. This defense was allowed by the Superior Court judge and upheld by the Georgia Supreme Court in 2009. This led the Georgia legislature to pass a statute in 2010 making it a crime for a teacher to have sexual relations with a student. As of August 2024, these board posts are up for general election in 2024: Lists of school districts in the United States These are lists of school districts in
1634-512: The taxes. Investors in higher tax brackets may arbitrage municipal bonds against corporate bonds using a strategy called municipal bond arbitrage . The U.S. Supreme Court held in Pollock v. Farmers' Loan & Trust Co. (1895) that the federal government had no power under the U.S. Constitution to tax interest on municipal bonds, but in South Carolina v. Baker (1988), the Supreme Court held
1677-472: The two categories. The U.S. municipal debt market is relatively small compared to the corporate market: total municipal debt outstanding was $ 4 trillion as of the first quarter of 2021, compared to nearly $ 15 trillion in the corporate and foreign markets. But conversely, the number of municipal bond issuers (state and local governments and other affiliated entities) far exceeds the number of corporate bond issuers. Local authorities in many other countries in
1720-413: The world issue similar bonds, sometimes called local authority bonds or other names. Municipal debt predates corporate debt by several centuries—the early Renaissance Italian city-states borrowed money from major banking families. Borrowing by American cities dates to the nineteenth century, and records of U.S. municipal bonds indicate use around the early 1800s. Officially the first recorded municipal bond
1763-465: Was a general obligation bond issued by the City of New York for a canal in 1812. During the 1840s, many U.S. cities were in debt, and by 1843 cities had roughly $ 25 million in outstanding debt. In the ensuing decades, rapid urban development demonstrated a correspondingly explosive growth in municipal debt. The debt was used to finance both urban improvements and a growing system of public education. Years after
Cobb County School District - Misplaced Pages Continue
1806-517: Was collected in. As of August 2024, the elected board members of the Cobb County Board of Education of the Cobb County School District are: The board gave management of fiscal year 2025 general-fund operating budget of approximately $ 1.8 billion to Superintendent Ragsdale for most transactions under $ 200,000. In recent years, the Superintendent has been granted authority to manage most of
1849-490: Was rebuilt farther down Sandy Plains Road; the original was demolished in 2018 for a new shopping center. Also located in a busy business district , Brumby Elementary on Powers Ferry Road was set to be replaced by a mixed-use development in 2020 with a Kroger superstore by 2022. Both Brumby and East Cobb Middle School opened new schools next to each other on Terrell Mill Road in August 2018, although local residents objected to
#263736