LOAN ADMINISTRATION
Administering the debt issuance process on behalf of your municipality is one of the four funding-specific services MuniciPaid provides to municipalities.
More Administration?
Issuing debt is one of the most legal-heavy processes that Treasurers encounter on an annual basis. It involves significant back-and-forth with funding agencies, signatures, applications, reports to Council, underwriting, escrow, and by-laws. At the end of the day, all you want is an amount wired to your bank account to fund a project. While we can’t shorten the months of work required or convince the lawyers to speed-up this transaction, we can shift the time and effort off your plate and onto ours.
Process
Debt issuances are governed by the Municipal Act and an accompanying O.Reg. Did you know the standard debt issuance process has ten key steps? Four of them involve checkpoints with Council. Three of them require the help of lawyers. Documents will need to be signed by the Treasurer, Clerk, and Mayor. Sound stressful? It can be even for those who have done it before!
How Can We Help?
At MuniciPaid we’re well acquainted with the legalities of debt issuances, and can ensure the fine print is followed. We’ll simplify the experience with our deadline-oriented checklists. We can support any follow-up from the underwriters and facilitate the document signatures to keep the process running smoothly.