Exercise
Fill in the blank.
1. An agreement to publicly disclose information relevant to the market value of the bonds throughout their lives is called a _____.
2. The underwriter of a new municipal issue must deliver copies of the official statement within _____ business day(s) to any investor who requests it. This practice must be continued until the underwriter has provided a copy to the MSRB and until at least _____ days have elapsed from the end of the underwriting period.
3. Underwriters must also provide the MSRB with copies of any amendments to the official statement up until the _____ day after the settlement of the underwriting.
4. A _____ is a communication from the managing underwriter that tells syndicate members the final terms of the underwriting.
5. For competitive sales, issuers of municipal securities must apply for new issue eligibility at a securities depository registered with the SEC, such as the DTC, no later than _____ business day(s) after they award the securities to an underwriter.
6. For a negotiated sale, issuers of municipal securities must apply for new issue eligibility at a securities depository registered with the SEC, such as the DTC, right after the _____ has been executed.
7. _____ is an electronic system operated by the Depository Trust and Clearing Corporation, which accepts new issue information and distributes it to vendors, dealers, and other market participants.
Answer TRUE or FALSE.
8. TRUE or FALSE. A revenue bond is more likely to require voter approval than a GO bond.
9. TRUE or FA