NEW MEXICO FINANCE AUTHORITY
Notice of Retention of Independent Registered Municipal Advisor
By publicly posting the following written disclosure, the New Mexico Finance Authority (“NMFA”) intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the Securities and Exchange Commission’s Municipal Advisor Rule.
NMFA has retained an independent registered municipal advisor with respect to its Public Project Revolving Fund and with respect to issuance of conduit and other bonds. NMFA is represented by and will rely on Western Financial Group, LLC, a wholly owned subsidiary of PRM Financial Advisors LLC, an “Independent Registered Municipal Advisor” to provide advice on proposals from financial services firms concerning the issuance of municipal securities. Proposals may be addressed to Michael Zavelle at email@example.com. For proposals to be considered by NMFA, they will be shared with its municipal advisor.
NMFA has retained PFM Swap Advisors LLC (“PFMSA”) as a “Qualified Independent Representative” for purposes of advising NMFA with respect to termination of swaps for which NMFA is the counterparty as a component of the New Mexico Department of Transportation (“NMDOT”) Subordinate Lien 2018A Series bonds to be sold in June 2018 for which NMFA is the issuer.
NMDOT has (i) retained Public Financial Management (“PFM”) as an “Independent Registered Municipal Advisor” for purposes of advising NMDOT on proposals from financial services firms concerning the issuance of municipal securities, and (ii) retained PFM Swap Advisors LLC (“PFMSA”) as a “Qualified Independent Representative” for purposes of advising NMDOT on proposals from financial services firms concerning the issuance of derivative products. Contact NMDOT to confirm the NMDOT and PFM or PFMSA arrangements.
Consequently, financial services firms can provide NMFA with general market information and general structuring ideas regarding the NMDOT bond and derivatives program. However, formal proposals must be addressed to, and discussed with, NMDOT and PFM or PFMSA, although NMFA can be copied after the fact as a courtesy. Copies of proposals may be addressed to Michael Zavelle at firstname.lastname@example.org.
Under New Mexico law, NMFA acts at the direction of NMDOT and the State Transportation Commission (“STC”) when issuing NMDOT bonds and derivatives and neither structures securities products on behalf of NMDOT or the STC nor advises NMDOT or the STC on how to structure securities products.
This notice may be relied upon until December 31, 2018.