To Tell the Truth: How to Prepare Top-Shelf Bond Disclosure*
Of all the steps required to issue municipal bonds – legislative and perhaps voter approval, hiring a financing team, obtaining ratings, and going to market – nothing bears more risk for the individual finance official than the preparation of the official statement. This document is subject to federal securities laws, and has been the basis for a number of Securities and Exchange Commission (SEC) investigations, as well as sanctions not only against the issuer, but also against the individual finance officer responsible. Occasionally, the finance officer has even been levied a fine. Many finance officers assume that their lawyers and advisers are responsible for this document, and do not appreciate their responsibilities, and even the risk to their careers that this document can pose if not properly prepared. This panel will include three experienced professionals who will help you develop a strategy to protect not only your city, but yourself.
- Lakshmi Kommi, Debt Management Director, City of San Diego
- David Brodsly, Managing Director, KNN Public Finance
- Dan Deaton, Partner, Nixon Peabody