Independent Registered Municipal Advisor (IRMA) Exemption Language
By publicly posting the following written disclosure, Grossmont Union High School District, (the “District”), intends that municipal market participants receive and use this disclosure for the purpose of using the independent registered municipal advisor (IRMA) exemption to the SEC Municipal Advisor Rule mandated by Sec. 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The District currently retains KNN Public Finance (“KNN”) as its registered municipal advisor in connection with its debt issuance and management programs. With regard to potential issuances of municipal securities, the District will rely on its registered municipal advisor to provide advice on financing proposals from financial services firms concerning the issuance of municipal securities, however the District does not engage KNN as an investment advisor, as the County of San Diego Treasurer-Tax Collector is consulted in connection with the execution of municipal financial products (including bond proceeds and escrow investments (if applicable)).
The above written disclosure may be relied upon until June 30, 2023. Financing proposals may be addressed to Grossmont Union High School District at 1100 Murray Drive, El Cajon, CA 92020-5664, Attention: Deputy Superintendent [with a copy provided to KNN at 5901 W. Century Blvd., Suite 750, Los Angeles, CA 90045].
The District will discuss any proposal with KNN before taking any action on the proposal.