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Firm Innovations |
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Since its founding in 1981, the professionals at MFCI have changed the way Michigan municipalities sell bonds and notes. These professionals have introduced the following innovations to Michigan public finance:
· The first to have a competitive bond sale on the Internet.
· The first advanced refunding to be sold at competitive sale.
· The first competitive sale to use a financial surety bond in lieu of a good faith check. (Today nearly all competitive sales use a financial surety bond. The result is that more bids are being submitted from out-of-state bidders that were previously unable or unwilling to bid on Michigan issues.)
· The first to require bidders to bid in “ascending” rates to lower the true interest cost of the issue and preserve the issuer’s ability to call. · The first to reduce underwriters discount from the standard 2%.
Each of these innovations were aimed at one goal: to reduce the cost of borrowing to our clients. We are further committed to using whatever techniques we believe will accomplish that goal. |
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Municipal Financial Consultants Incorporated |
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21 Kercheval Avenue Suite 360 Grosse Pointe Farms, MI 48236 |