WASHINGTON, D.C. — A new episode of the CitiesSpeak podcast from the National League of Cities (NLC) features Seán McCarthy, CEO of Build America Mutual (BAM), in conversation with NLC CEO and Executive Director Clarence Anthony about how municipal bonds help cities, towns and villages finance critical infrastructure projects. The episode explores the fundamentals of the municipal bond market, the growing demand for local infrastructure investment and the financial strategies local leaders can use to deliver long-term community improvements.
Drawing on decades of experience in municipal finance, McCarthy explains how local governments can approach capital planning, navigate the bond issuance process and build partnerships that lower borrowing costs while supporting essential infrastructure. The conversation highlights municipal finance as a key tool for strengthening local communities, creating jobs and investing in projects that improve residents’ quality of life.
On why municipal finance matters:
“When I’m driving down the road and I can point to a hospital or a road that I have helped finance, and I can turn around as my kids were sitting in the back of the car and say, ‘You know what? We helped build that.’ … It gives you an opportunity to do good while doing well.” — Seán McCarthy, CEO, Build America Mutual
On the growing role of local governments in infrastructure investment:
“State and local governments finance 85 percent of what you think of as infrastructure. So, it’s the roads, it’s the schools, it’s the hospitals, it’s the town hall… Increasingly that responsibility falls on those localities and not the federal government.” — Seán McCarthy, CEO, Build America Mutual
On the importance of leadership and communicating a vision:
“The people who are very successful at accessing the markets are great communicators of what their vision is in terms of how they want to build schools, they want to make the roads better, they want to have a better hospital. Those are the fundamental things that the people in each community get behind, especially if they understand and appreciate what the goal is.” — Seán McCarthy, CEO, Build America Mutual
On where local leaders should begin:
“Mayors should tell their story. If you’re the mayor, you have to have goals. What am I doing to make my community better, bigger and stronger? Financing essential infrastructure is a key part of that.” — Seán McCarthy, CEO, Build America Mutual
The CitiesSpeak podcast features conversations with leaders and policy experts on the biggest issues facing America’s cities, towns and villages.
Listen to the full conversation, also available on Apple Podcasts, Spotify and YouTube.
About CitiesSpeak
Each episode of NLC’s podcast, CitiesSpeak with Clarence Anthony, dives into a critical issue facing local leaders today, featuring conversations with elected leaders and policy experts from across the country. The podcast is a relaxed and entertaining resource for local policymakers looking for ideas and information to bring back to their communities. The podcast is hosted by NLC CEO and Executive Director Clarence Anthony, who previously served as mayor of South Bay, Florida, for more than two decades.
New episodes of CitiesSpeak are available on all major podcasting platforms and on YouTube. If you have feedback for the show or ideas for future guests, email us. Happy listening!
CitiesSpeak Podcast: Financing Municipal Infrastructure with Seán McCarthy, CEO, Build America Mutual (BAM)
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