An attorney or firm of attorneys engaged to represent the Underwriter or Underwriters in connection with the issuance of Bonds.

The Underwriter of the Bonds typically hires its own counsel, with the primary exception being in connection with Bonds sold through the Competitive Sale process.  The Underwriter’s Counsel generally has the role of initial coordinator of preparing the Offering Document and is generally expected to assist the Underwriter in performing its Due Diligence investigation of the Issuer, the Borrower (if any), the project being financed and the revenues pledged as Security for the repayment of the Bonds.  Generally, Underwriter’s Counsel reviews the transaction documents, reviews the underlying support for Bond Counsel’s Opinions as to the validity and tax-exempt status of the Bonds and prepares and delivers at the Closing a “letter” as to the adequacy and accuracy of the disclosure.  Underwriter’s Counsel may also prepare some documents necessary to the transaction, including a Bond Purchase Agreement, an Agreement Among Underwriters and any required preliminary and final Blue Sky Memorandum.  For more information, please see the “Model Letter of Underwriters’ Counsel.”

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See Also

Underwriter

A securities broker or dealer that purchases bonds from an issuer and resells them to investors.

Syndicate or Underwriting Syndicate

A group of underwriters formed to buy a bond issue from the issuer and then offer the bonds for resale to the public.