The
senior manager's chief responsibility is to ensure his client (the
borrower) the lowest possible cost of borrowing. The senior manger
will perform the following services:
- Secure the necessary approvals for financing.
- Assist the institution with the decision on whether to have a
feasibility study and, if so, in selection of the financial feasibility
firm and review of the report.
- Oversee the preparation of the Preliminary and Final Official
Statements.
- Analyze financing options (terms, variable vs. fixed rate, credit,
etc.)
- Structure the financing.
- Assist in the rating process and/or selection of credit enhancement.
MHHEFA selects the senior manager on behalf
of the borrower. The Authority makes its selection from the
current list of Eligible Senior Underwriters.
The current list of Eligible Senior Underwriters
responsible for the distribution and sale of bonds, as assigned
by the Authority,
is as follows:
A.G.
Edwards
Cain Brothers
Merrill
Lynch & Co., Inc.
USB Paine Webber, Inc.
Morgan Stanley - Dean Witter