Oversubscription retention permitted allowing issuers to keep excess subscription subject to offer limits and rated size. Issuers of municipal debt securities may retain oversubscription proceeds up to 100% of the Base Issue size, provided retention does not exceed the rated ... Summary
Oversubscription retention permitted allowing issuers to keep excess subscription subject to offer limits and rated size.
Issuers of municipal debt securities may retain oversubscription proceeds up to 100% of the Base Issue size, provided retention does not exceed the rated size or any lower limit disclosed in the offer document; for shelf offer documents, oversubscription may be retained up to the total shelf offer size.
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