Closing
The date of delivery of a new issue of bonds, at which time the issuer delivers the bonds and the requisite legal documents to the underwriter or other bond purchaser in exchange for the purchase price.
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Closing Transcript
The final record of all executed documents (including the basic documents, the proceedings of the Issuer to authorize the Bonds, all security documents, Closing certificates, opinions) delivered at the Closing or shortly thereafter as a bound transcript or in electronic form.
See Also
Closing Index
An index of all documents to be delivered at a closing and included in the closing transcript.
Closing Memorandum
A narrative form of, or adjunct to, the closing index describing the participants, their roles in the financing, flow of funds on the date of the closing, closing instructions and the documents for which the transaction participants are responsible.
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Due Diligence
A term referring to the inquiries and review conducted by either the underwriter and underwriter’s counsel or bond counsel or special tax counsel in connection with the issuance of bonds.