Bona Fide Debt Service Fund
Fund primarily used to achieve proper match of revenues and debt service within each bond year.
A consultant to an Issuer (or, in some cases, a Borrower) which provides advice with respect to the structure, timing, terms or other similar matters concerning a Bond Issue. Sometimes referred to as a “financial advisor” on municipal transactions.
A Municipal Advisor may be engaged by the Issuer or a Conduit Borrower to provide financial consulting or advisory services to the Issuer or the Borrower. A Municipal Advisor may be either an independent financial advisory firm or a commercial or investment bank that, in addition to underwriting and distributing Securities, performs financial advisory services. While generally they are strictly acting in an advisory capacity as to financing techniques and the structure of the Bonds and the transaction, from time to time Municipal Advisors may, if licensed as a broker or dealer, participate in an Underwriting Syndicate provided that they comply with the relevant rules of the Municipal Securities Rulemaking Board (“MSRB”).
Learn more about the various parties involved in a municipal securities transaction and their roles.
Fund primarily used to achieve proper match of revenues and debt service within each bond year.