1. Assist and make recommendations on all aspects of the debt issuance, including the method of sale, structure, terms, redemption provisions, timing, marketing, pricing, and working group required. 2. Prepare affordability models as applicable for issuances backed by specific revenues. 3. Examine, evaluate and recommend an overall financing plan that is expected to result in the lowest cost of borrowing to MUTD over the life of the debt, including the ability to estimate and compare the financial impact of tax-exempt vs. taxable issuances and various call option and coupon combinations. 4. Assist in the preparation of the preliminary and final official statements, schedule, distribution list, meeting agendas, and other documents related to the marketing and issuance of the bonds. 5. Assist with the preparation for, and participate in, meetings and conference calls with the working group, investors, credit rating agencies, credit facility providers, and MUTD staff. 6. In negotiated transactions: a. Create a transaction term sheet for the underwriting team detailing priority of orders, retail definition, liability allocations, designation rules, and takedown levels; b. Recommend pricing levels based on historical pricing and the pricing of comparable credits in the then current market; c. Provide a written opinion that the initial offering price of the bonds reflected fair market pricing on the date of sale d. Review and coordinate the allocation of bonds among the members of the underwriting syndicate; and e. Summarize the allocation of bonds across the different types of investors. 7. In competitive transactions: a. Assist in the preparation of the notices of sale and bid specifications; b. Inform underwriting firms of the structure and timing of the transaction; c. Independently evaluate bids, verify the true interest cost calculation, and recommend award; and d. Certify yield, weighted average maturity and other matters relating to the transaction. 8. Assist in the evaluation and selection of underwriters/investment bankers, legal counsel, trustees, verification agents, and other professional service providers, including preparation of requests for qualifications (RFQs), requests for proposals (RFPs) or bids and the evaluation of statements of qualifications, proposals or bids submitted in response thereto. 9. Provide a transaction summary outlining pricing performance, investor participation, orders and allocations, market dynamics, and other relevant data. 10. Provide advice and guidance on post-issuance compliance, including but not limited to continuing disclosure, investment of proceeds, GASB, or any other state or Federal regulations affecting MUTD’s debt, as requested.
