Public Finance Authority (“PFA”) is a political subdivision of the State of Wisconsin created for the purpose of issuing tax-exempt and taxable conduit bonds for public and private entities nationwide. PFA is sponsored by the National Association of Counties, the National League of Cities, the Wisconsin Counties Association and the League of Wisconsin Municipalities. Click here to learn why NACo and NLC collaborated to create PFA.
PFA partners with local governments to assist in the financing of public benefit projects that create temporary and permanent jobs, affordable housing, community infrastructure and improve the overall quality of life in local communities.
By publicly posting the following written disclosure, the Public Finance Authority (“PFA”) intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC Municipal Advisor Rule. PFA has retained an independent registered municipal advisor. PFA is represented by and will rely on its municipal advisor GPM Municipal Advisors, LLC (“GPM”) to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial products. This certificate may be relied upon until July 1, 2016. Proposals may be addressed to PFA, care of any of the Program Managers listed on PFA’s Contact Us page. All proposals received will be shared with PFA’s municipal advisor.
PFA is authorized to issue bonds in all 50 states providing economies of scale for multi-jurisdictional projects. Additionally, the use of tax-exempt bonds to finance a project significantly reduces the borrower’s costs in the form of a lower interest rate.
PFA works directly with cities and counties to accelerate economic development with financing programs, including those available through the American Recovery and Reinvestment Act (ARRA).
PFA’s governance structure and local government oversight and approval requirement for each financing ensure accountability and transparency.
PFA works effectively and efficiently with each borrower’s finance team to satisfy the requirements of the government approval process, including local TEFRA approval and securing volume cap (if applicable).
PFA increases access to the municipal bond market by providing technical assistance to local governments that may otherwise be unable to issue conduit bonds due to limited resources.
PFA is operated by program management staff with more than 20 years of experience in tax-exempt private activity and municipal finance, including post-issuance compliance requirements.
PFA does not have established lists of preferred finance professionals and will consider all requests to work with pre-assembled finance teams.
PFA, its Sponsors and Founding Members engage in marketing and awareness activities to local businesses throughout the country creating additional opportunities for finance professionals to bring financings to the market.
PFA has already issued bonds for projects in 36 states. Click for details on issuances by state.