DAC Bonds

DAC works directly with tax-exempt bond issuers to obtain and file complete, accurate and timely information as contracted for in each Continuing Disclosure Agreement. For obligors such as hospital systems, universities and other non-governmental entities that incur debt through both municipal bond and direct/taxable offerings, DAC offers an integrated obligor based repository for seamless disclosure of bond issues and non-municipal direct/taxable issues, for centralized disclosure to investors. The repository function is equally valuable to market participants and issuers alike as DAC meets all SEC requirements as an independent third party, accepted for maintaining all repository functions, as agreed to in its engagements.

The DAC business and technology solutions improve the secondary disclosure process in four important ways.  First, the DAC website is a state of the art Document Management System that provides access to the original document filed to EMMA and assures the integrity of all filings made. The advantages are accuracy, speed and an audit trail for the life of the bond.  Second, the DAC solution incorporates reminders with a template for the upcoming filing. Users are supported with DAC compliance reviews from the time of initial issuance and throughout the life of the bond, with DAC assisting in the identification what is to be filed and when.  Third, DAC maintains a receipt of all filings over the life of the bonds along with a copy of the document filed, to provide an audit trail of your ongoing compliance with disclosure obligations, for each bond issue.  Issuer and obligor clients are provided access to the full database of their filings, that is secured and readily accessible, in real-time from anywhere at any time.  Fourth, issuers and obligors are provided access to the integrated DAC Repository for all investors to view, at no cost, all of their filed disclosures in one centralized location.