ADFA Professional Selection Policy
By publicly posting the following written disclosure, the Arkansas Development Finance Authorityintends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC Municipal Advisor Rule.
Independent Registered Municipal Advisor Certification
The Arkansas Development Finance Authority (ADFA) has retained an independent registered municipal advisor. ADFA is represented by and may rely on its municipal advisor FirstSouthwest, a division of Hilltop Securities Inc., to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial products (including investments of bond proceeds, escrow investments, etc.), if applicable. As of January 21, 2016, the individual with primary responsibility for advising ADFA on such matters is Steve Kantor. This certification may be relied upon until otherwise updated by ADFA.