Issuer
A state, political subdivision, agency or authority that borrows money through the sale of bonds or other securities.
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Issuer’s Counsel
An attorney or firm of attorneys engaged to represent the Issuer to ensure proceedings have been conducted legally and that the Issuer has the authority to execute the documents to which it is a party.
The Issuer may have its own Issuer’s Counsel involved in the transaction, who is separate from the Bond Counsel. The Issuer’s Counsel may be either an employee or employees of the Issuer or an outside attorney or a firm of attorneys. Issuer’s Counsel often give opinions that the Issuer’s proceedings have been conducted legally, the Issuer is a legally existing state or local governmental entity and the Issuer has the authority to execute the documents to which it is a party.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
See Also
Borrower’s Counsel
An attorney or firm of attorneys serving as counsel to the borrower in connection with a conduit financing.
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Municipal Securities Rulemaking Board (“MSRB”)
A self-regulatory organization charged with rulemaking authority over municipal securities dealers and municipal advisors.