FAQ

Step 1 - Learn about the bonds

Read the Preliminary Official Statement (POS) available from this web site or from the participating brokers to learn more about the bonds, including their security, maturity dates, credit ratings, the types of projects they finance and other information that you may find important to help you make an informed investment decision. This website is not an offer to sell any bonds.

Step 2 - Open a brokerage account

You must have an account with one of the brokerage firms participating in the bond sale, or with another firm that can place an order through a brokerage firm participating in the bond sale. Please check to determine if your broker can place an order through the participating brokers. (If you have a brokerage account, go to Step 3.) If you do not have an account, you may open one and purchase bonds during the Retail Sale Order Period. A list of brokers participating in the sale can be found on the left side of this page.

Investors are encouraged to begin the New Account process well in advance of the sale date. Depending on the brokerage firm, internal new account procedures may take some time to process.

Step 3 - Place your order

Contact the broker with whom you have an account, either online or by phone, to get more information about how to buy bonds during the Retail Sales period. Discuss with the broker the number of bonds, the maturity date and the price at which you are willing

Municipal bonds ("muni bonds")  are bonds issued by a local or state government that are used to raise funds for capital improvements in infrastructure. For example, a city or may issue a bond to finance street, sewer, or public building projects. Municipal bonds are exempt from federal income taxes and sometimes from state and local taxes as well.

Credit rating agencies assign credit ratings based on their analysis of an issuer's ability to make interest payments and repay principal in a timely manner.

Bonds rated BBB or Baa, or better are characterized as "investment grade," meaning that they have a high probability of being repaid and have few speculative features.