A memorandum to the Underwriter(s), typically prepared by Underwriter’s Counsel, setting forth the requirements of the state securities laws in the states where the Bonds are anticipated to be sold. This memorandum may be followed by a supplemental Blue Sky Memorandum which indicates the states where any required action has been completed so that the Bonds may be sold in such states.
Learn more about the various aspects of state laws and how they intersect with municipal securities.
State securities laws, which regulate the offering of securities. Although these laws vary from state to state, most contain provisions concerning (a) prohibitions against fraud; (b) regulation of brokers and dealers doing business in the state; and (c) registration of Securities.
A notice of a TEFRA hearing, which, under the Treasury Regulations, must be published one time, at least seven days prior to the TEFRA hearing, in a newspaper of general circulation in the geographical jurisdiction of the Issuer of the tax-exempt bonds and in any “host jurisdiction” (or on the appropriate governmental entity’s website).
