SIFMA today published its updated SIFMA Model Bond Purchase Agreement for Negotiated Municipal Securities Underwritings. The agreement is intended for use in connection with governmental tax or revenue-supported securities, including fixed, variable rate, auction and credit enhanced securities, and is not intended for use in connection with conduit financing transactions. It has two parts, the Terms and Acceptance document and the General Provisions and Conditions document.
“SIFMA is pleased to provide the marketplace with an updated model bond purchase agreement for municipal securities” said Leslie Norwood, managing director, associate general counsel and head of municipal securities at SIFMA. “We have updated the agreement to reflect changing regulatory and market events, such as language regarding issue price certificates. As always, however, each firm should make their own independent decisions about how they will compete in the marketplace.”
The updated documents are available at the following links:
Municipal Securities – Model Bond Purchase Agreement: Terms and Acceptance
Municipal Securities – Model Bond Purchase Agreement: General Provisions and Conditions
