WASHINGTON -- When the City of Eden Prairie, Minn., went to market recently with $10 million of bonds to build the Tanager Creek multifamily housing project, it decided to require the most up-to-date secondary-market disclosure possible.

The bond issue includes a continuing disclosure agreement under which the project developer and credit enhancer agree to provide regular financial reports to the bond trustee, according to the bond counsel for the deal, John Utley, of the law firm of Mackall, Crounse & Moore in Minneapolis. The trustee will then supply them promptly to both bondholders and nationally recognized repositories.

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