WASHINGTON -- Just as the arduous task of putting a municipal offering together draws to a close -- underwriters shake hands with the issuers, financial advisers smile over a job well done, and the trading floor waits in anticipation to push the brand new bonds out the door -- the wheels of an unseen machine begin to turn.

The machine is the Municipal Securities Rulemaking Board's new information library for bond documents, and it needs that freshly printed official statement.

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