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Finance director briefs council on option to let retail investors buy future Strongsville bonds; legal and disclosure work needed
Summary
Finance Director Dean told Strongsville City Council that underwriter feedback shows retail investors could be allowed to purchase the city's municipal bonds in future offerings but cautioned that no offering is pending and legal disclosures and process details must be resolved first.
Finance Director Dean briefed Strongsville City Council on April 21 about the possibility, discussed by the city’s underwriter, of allowing retail investors to participate in future municipal bond offerings.
Dean said the concept is an option the underwriter raised and that the city currently has no active bond offering. "There’s an option, to invest in the city," Dean said, describing retail participation as…
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