What role does a liaison play in the bond issuing process?

The role of a liaison in the bond issuing process is crucial as it primarily involves facilitating communication between the municipality and the underwriter. This communication is essential for ensuring that both parties are aligned regarding the bond's terms, financial needs, and market conditions. The liaison acts as an intermediary, helping to translate the municipality's objectives into actionable information for the underwriter while also conveying the underwriter's insights and recommendations back to the municipality.

This position is critical to maintaining a smooth and efficient bond issuance process, as effective communication can help identify any issues early on and ensure that the needs of the municipality are met in the structure and pricing of the bond. By serving as the link between the two parties, the liaison helps streamline the interaction and fosters collaboration, ultimately contributing to the successful issuance of municipal bonds.