HB2320 mandates school districts to hire independent municipal advisors for bond elections and related bond issuance.
HB2320 requires school districts to hire independent municipal advisors for bond elections and bond issuance. These advisors must be registered with the Securities and Exchange Commission and assist with the election and bond issuance. They cannot advise on selecting other professionals or purchase or underwrite bonds they advised on. The advisor's duties include determining repayment structures, obtaining bond ratings, hiring professionals for bond sales, and assisting with other bond-related matters.
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