General Treasurer Hires Law Firm to Handle Bonds
Wednesday, April 20, 2011
The state has retained the services of Hawkins Delafield Wood of Washington, D.C. to assist it in updating all of its bond disclosure statements.
The firm was selected as part of a request for proposal process conducted by both Treasurer’s and the Governor's office.
The firm will develop written disclosure controls and procedures, as well as conduct one or more training sessions regarding compliance with the federal securities laws, devoted to educate the state’s Treasury staff. The firm aims assist the state with developing an ongoing training program. In addition the firm will also review the current disclosures of the state regarding its pension plans.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST"This firm was chosen because of its national reputation in helping state and local governments prepare bond disclosure documents," General Treasurer Gina M. Raimondo said. "It is critical to have outside advice as we work to present a complete picture of our finances to potential bond investors."
Raimondo continued. "The state needs to be able to enter the bond market in the years to come on the most favorable terms possible and complete disclosures are critical to ensuring this access." The state uses bonds to finance the construction of schools, roads and bridges, among other vital infrastructure.
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