• News,

Transforming Public Finance: The Role of Artificial Intelligence

Artificial Intelligence (AI) is transforming public finance worldwide, streamlining processes, and improving decision-making. Yet, this integration raises important legal considerations that must be carefully regulated. Article provided by Dan Rodriguez…

Cost of Issuance

Expenses paid by or on behalf of the Issuer or a conduit borrower which are directly related to the issuance and sale of the bonds.

Bond Purchase Agreement (“BPA”)

Contract in which the Issuer and/or borrower agrees to sell bonds to the underwriter.

Bond Counsel

An attorney or firm of attorneys, frequently retained by the Issuer but sometimes by another party to the transaction, to render an opinion in a bond financing as to the…

Blue Sky Memorandum

Memorandum to Underwriter(s) setting forth the requirements of the state securities laws in the states where the Bonds are anticipated to be sold.

Agreement Among Underwriters

Agreement used in the purchase of a bond issue by a syndicate to set out the rights, obligations and purchase commitments of each underwriter; to authorize one or more underwriters…

Agreed-Upon Procedures Letter

A letter from an independent certified public accountant stating that they have performed certain agreed upon duties.

  • Reports and Resources
  • In Progress

Tax Diligence Best Practices

One or more tax due diligence tools for NABL members intended to provide a foundation for a due diligence process by providing a framework of items to review and consider.

  • Reports and Resources

Model Letter of Disclosure Counsel (2018 Edition)

This Model Letter is provided to assist NABL members in their representation of issuers (or conduit borrowers) as disclosure counsel in connection with the issuance of municipal securities. The Model…

  • Reports and Resources

Model Letter of Underwriter’s Counsel (2nd Edition)

Model Letter provided to assist NABL members in their representation of underwriters in connection with the issuance of municipal securities. The Model Letter contains references, indicated by italicized, bold-face letters,…

  • Reports and Resources

Model Bond Opinion (2003)

Fourth edition of the NABL model bond opinion and accompanying commentary.

  • Reports and Resources

Model Letter of Underwriters’ Counsel

Model letter of underwriter’s counsel (1999).