official statement

Definition

A legal statement which serves as the prospectus for a municipal bond. It is a disclosure of the finances surrounding the issue of the municipal bond, and is prepared by the local or state government and its legal counsel. The official statement indicates how investors in the bonds will be repaid.

Use official statement in a sentence

The official statement was provided to the trader who placed his client in the low risk municipal bond investment security.

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At the end of the year, city officials collected information from various departments as they prepared to issue their official statement.

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When my boss was considering investing in municipal bonds, he asked me to pull the official statement and make sure everything was shipshape.

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