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REFUNDING ISSUE BOOKENTRYONLY In the opinion of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Bond Counsel, under existing law, and assuming continued compliance with various requirements of
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Gather all necessary documentation related to the purchase.
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A refunding new money issue refers to the process of refinancing existing debt instruments while simultaneously raising new funds for additional financing needs.
Municipal entities or issuers that engage in refinancing existing debt while also issuing new debt to fund projects are required to file for a refunding new money issue.
To fill out a refunding new money issue, an issuer must complete the appropriate forms detailing the existing debt, the new debt issuance, and the intended use of the proceeds.
The purpose of a refunding new money issue is to lower interest costs on existing debt and to obtain additional funds for ongoing or new projects.
Information that must be reported includes details of the existing debt being refunded, the terms of the new money being issued, the use of proceeds, and financial statements.
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