• Review the financing structure to ensure that any potential risk of default is identified, in order to protect the IDA’s reputation as a diligent conduit issuing authority; • Review the proposed finance team members (e.g. Bond Counsel, Trustee, etc.) to ensure that each member is experienced and well-regarded (failure to do so could possibly impact the sale of underlying bonds), as well as review the reasonableness of any team member’s proposed fees and expenses; • Review the borrower’s financing timeline to determine the likelihood of closing on schedule; • Be available to participate in all document-drafting meetings and conference calls, as directed by IDA staff; • Representing the interest of the IDA as bond issuer, review and comment on the underlying financing documents (e.g. Trust Indenture, Loan Agreement, Official Statement, etc.); • Provide the IDA’s Board of Directors with a report summarizing proposed transactions, which would minimally include the background of the borrower, an overview of the plan of finance, a summary of the positive elements to the financing, and a delineation of any potential risk factors; • Throughout the bond-issuance process, communicate to the IDA and its staff any concerns regarding the viability of the transaction; • Be available to attend meetings of the IDA Board of Directors to report on the status of the engagement, as requested by IDA staff; • Participate in the pre-pricing call, and communicate to the IDA and its staff any concern for the competitiveness of proposed interest rates; and • Provide all other reasonable financial advisory services, as needed relative to the transaction and as requested by IDA staff.
