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Official Website

of the Commonwealth of Pennsylvania

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    Notices

    This area provides notices that users may want to be aware of but do not affect a funding recipient's financial assistance process.

    IRMA Notice - Independent Registered Municipal Advisor Exemption

    The Pennsylvania Infrastructure Investment Authority ("PENNVEST") is providing this statement for the benefit of dealers, repayment agents, and other market participants providing or desiring to provide advice to PENNVEST regarding municipal financial products or the issuance of municipal securities (including, but not limited to, the investment of commercial paper or the investments of bond proceeds and escrows) where such entities desire to utilize the independent registered municipal advisor exemption from the municipal advisor definition in Securities and Exchange Commission rules.

    PENNVEST has retained, is currently represented by, and will rely on, the advice, analysis, and perspective of Lamont Financial Services Corporation, an Independent Registered Municipal Advisor, in considering information (other than general information that does not involve a recommendation) that is provided to PENNVEST regarding municipal financial products or the issuance of municipal securities (including, but not limited to, the issuance of commercial paper or the investments of bond proceeds or escrows) before PENNVEST will make a determination.

    This statement does not negate any obligations that broker dealer/underwriting firms may have to PENNVEST under federal and state securities statutes and regulations as well as purchasing requirements and common law, nor in any way should it be construed that PENNVEST is waiving any rights or privileges it might otherwise have.