Public Charter Schools Borrowing With Tax-Exempt Bonds, Second ...

of the Official Statement that sets forth the relevant financial and operating
information about the school and/or the Project.
7. Underwriter’s counsel prepares and circulates to the working group initial draft
of Bond Purchase Agreement; disclosure counsel prepares and circulates to the
working group initial draft of the Preliminary Official Statement.
8. One or two rounds of meetings or conference calls to discuss the foregoing
documents followed each time by circulation of revised drafts.
9. Draft documents are submitted to the rating agencies and/or credit enhancement
providers, if applicable.
10. Another round of document review to take into account any comments or
requirements of the rating agencies, etc. followed by circulation of substantially
final drafts.
11. Meeting of the governing board of the public charter school to approve the Bond issue
and authorize execution of the legal documents to which it is a party or signatory.
12. Hearing on and approval of the Bonds by the Issuer (or government entity in
which the Project is located if not the Issuer) after at least 14 days published
notice (usually combined with step 13).
13. Meeting of the governing board of the Issuer to adopt the bond resolution
authorizing issuance of the Bonds and execution and delivery of the legal
documents and distribution of the Official Statement.
14. The Underwriter mails the Preliminary Official Statement to potential purchasers
of the Bonds (or posts it on the Internet and e-mails notice of its availability).
15. Pricing of the Bonds (i.e., setting the interest rates to be borne by the Bonds)
by the Underwriter (based on interest by investors) in consultation with the
Issuer and the school.
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