HomeMy WebLinkAboutPiper Jaffray Certificate of Bond ProceedsPiperjaffray. CERTIFICATE OF BOND PROCEEDS
FOR MUNICIPAL ENTITIES
I certify:
I. I am an official representative of the entity listed below, and am authorized to sign this certificate;
2. JR Bond proceeds or escrow investments will not be invested.
Regarding the account the entity has with Piper Jaffray & Co. with the account numbers
U6PC
for the purposes of Section 15B of the Securities Exchange Act of 1934 (Rule 15Ba1 et seq.) (the "Municipal
Advisor Rule") relating to the registration of municipal advisors, funds currently invested in or through these
accounts with Piper Jaffray & Co., or that the entity seeks to invest in these accounts, do not constitute (i)
proceeds of municipal securities or (ii) municipal escrow investments. I further certify that the entity will not
take action to invest any funds in the above -referenced accounts in or through Piper Jaffray & Co. that are
inconsistent with this representation without further notice to Piper Jaffray & Co.
❑ Bond proceeds or escrow investments will be invested.
Regarding the account the entity has with Piper Jaffray & Co. with the account number
for the purposes of the Municipal Advisor Rule, funds currently invested in or through these accounts with Piper
Jaffray & Co., or that the entity seeks to invest in these accounts, do constitute (i) proceeds of municipal
securities or (ii) municipal escrow investments.
3. 1 have access to the appropriate information or have direct knowledge of the source of the funds in the
accounts described above with Piper Jaffray & Co. that enable me to make these representations;
4. For the purposes of the Municipal Advisor Rule and the Adopting Release:
a. the term "proceeds of municipal securities" means monies derived by a municipal entity from the sale
of municipal securities, investment income derived from the investment or reinvestment of such
monies, and any monies of a municipal entity or obligated person held in funds under legal documents
for the municipal securities that are reasonably expected to be used as security or a source of payment
for the payment of the debt service on the municipal securities, including reserves, sinking funds, and
pledged funds created for such purpose, and the investment income derived from the investment or
reinvestment of monies in such funds.
b. the term "municipal escrow investments" means proceeds of municipal securities and any other funds
of a municipal entity that are deposited in an escrow account to pay the principal of, premium, if any,
and interest on one or more issues of municipal securities.
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Form 9932
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May 29, 2014
Re: Your Brokerage Relationship with Piper Jaffray & Co. Under the Municipal Advisor
Rules
Dear Valued Client:
We recently sent to you a communication respecting new federal regulations effective July
1, 2014, enacted under Section 15B of the Securities Exchange Act of 1934, the "Municipal
Advisor Rules."
Under the Municipal Advisor Rules, we need a written representation from you in
connection with your brokerage accounts at Piper Jaffray as to whether funds in these
accounts derive from the proceeds of municipal securities or municipal escrow
investments. The attached certificate informs us as to whether funds in specified accounts
include funds derived from the proceeds of municipal securities or municipal escrow
investments. This information provides the basis for determinations we make as to how
we treat your account under the Municipal Advisor Rules.
We are writing to remind you that we need to obtain this certificate from you and ask that
you read, sign and return it to us promptly.
Please review and sign the attached Section 15B Certificate and return it to Colleen
Oguamanam, 800 Nicollet Mall, Suite 1000 MS J12S02, Minneapolis MN 55402 or email
it to colleen.m oguamanam@l)ic coin
Please contact your registered representative for any questions about this letter.
All brokerage firms will also be asking you to provide these written certifications in the
near future. Thank you for your attention to this matter.
Sincerely Yours,
4L
Matthew R. Banks
Managing Director