Speer Financial, Inc.  Public Finance Consultants since 1954
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Speer Financial Services

Bond Sale Services (Implementation of Plans)

To facilitate sale of a client's debt issue(s), Speer Financial provides the following services:
  1. Legal Proceedings
    When the recommended plan of financing has been approved by the client, we will specify to the issuer's attorney and bond counsel the financial provisions to be included in the legal proceedings authorizing the debt issuance.

  2. Credit Rating and/or Insurance
    When a credit rating and/or insurance is found to be cost effective, we will submit the necessary data and arrange for presentation of the material to the selected rating and/or insurance company(ies).

  3. Official Statement, Notice of Sale and Bid Forms

    1. Preparation of Documents
      We will compile a Preliminary Official Statement, Notice of Sale and a Bid Form for each competitive sale. The Official Statement will describe the securities and contain detailed information about the issuer to permit prospective purchasers to make intelligent judgments.

    2. Notice of Sale Publication
      We will notify the market of the sale without cost to the issuer and prepare a summary Notice of Sale for publication in The Bond Buyer (a trade journal published in New York City) if such a paid advertisement is warranted and so authorized.

    3. Encouragement to Bidders
      Upon authorization from the issuer, we will circulate the Preliminary Official Statement to our list of interested parties, including investment institutions, banks and underwriters, to induce the best possible bid for the securities. We will also make personal contacts to induce formation of bidding groups. In this manner, we generate as many bids as possible. A supply of Preliminary Official Statements and Official Bid Forms for each sale are furnished to the issuer for hand distribution to local banks and elected officials.

      In the event of a negotiated sale, Speer Financial will also help the issuer select an underwriter or syndicate and will lead negotiations for the interest rates, terms and conditions of the debt issue.

    4. Bid Opening, Analysis and Recommendations
      We will conduct each sale, examine the bids submitted for completeness and compliance with the bid requirements and evaluate the bid(s) for accuracy. We recommend which bid, if any, should be accepted.

  4. Preparation, Registration and Delivery of Securities
    We will conduct all steps necessary to complete the financing, including monitoring the preparation, registration and delivery of the securities being issued.

  5. Debt Service Schedule
    We will provide the issuer with a final debt service schedule and other materials pertinent to the security sale.

  6. Sale Proceeds Investment Schedule
    Upon request, we will estimate a realistic time schedule for the expenditure of security proceeds to enable unexpended amounts to be invested and thereby help offset interest expense.