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Understanding Continuing Disclosure

Continuing disclosures consist of important information about a municipal security that arises after the initial issuance of the bond. This information generally reflects the financial or operating condition of the government or agency issuing the bond over time, as well as specific events occurring after issuance that may have an impact on the ability of the issuer to repay the bond, the value of the bond if it is bought or sold prior to its maturity, the timing of repayment of principal, and any number of other key features of the bond. This information is prepared by the state or local government or other agency issuing the bond. Each bond has its own unique set of continuing disclosures, and not all types of continuing disclosures apply to every bond.

Read more about continuing disclosure.