Serial Bond Transaction Flow Diagram

 

Municipality determines need for capital project and debt financing

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Municipality adopts bond resolution prepared by bond counsel

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Financial advisor develops a plan of financing with municipality including term of financing and expected interest rate.

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Financial advisor and bond counsel prepare “Official Statement” collecting coordinating activities with governing authority.

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Municipality requests and obtains credit rating.

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Bonds are sold to the lowest bidder.

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Closing documents are prepared – funds received.

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