DRPA IRMA Notice
 
Independent Registered Municipal Advisors (IRMA)

Effective Date: July 17, 2014

Independent Municipal Advisors Rule

By publicly posting the following written disclosure, the Delaware River Port Authority ("Authority") intends that market participants receive and use it for purposes of the Independent Registered Municipal Advisor exemption to the Municipal Advisor Rule of the U.S. Securities and Exchange Commission (Rule 15Bal-1-(d)(3)(vi)) (the "Rule").

Pursuant to and in accordance with the Rule, the Authority has retained two firms who shall constitute "independent registered municipal advisors" for purposes of the Rule. In particular, the Authority is represented by and will rely on its independent municipal advisors, Acacia Financial Group, LLC ("Acacia") and/or Public Financial Management, Inc. (“PFM”) to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial derivatives generally.

The appropriate contacts for Acacia and PFM are as follows:

1. Acacia – Peter Nissen, Managing Director, 856-234-2266
2. PFM – Katherine Clupper, Managing Director, 215-567-6100

The contracts with Acacia and PFM extend through November 30, 2016. Accordingly, this notice may be relied upon until such date or until its earlier withdrawal (notice of which will be posted on this website).

If a proposal received will be seriously considered by the Authority, the Authority will share the proposal with its municipal advisors. The personnel of Acacia and/or PFM who will advise the Authority on such matters have represented to the Authority that they have not been associated with the firms engaging in principal transactions of the Authority within the two years prior to the date of this notice. The Authority does not make any representations as to the independence of Acacia and/or PFM from the firms engaging in the principal transactions of the Authority. Please note that, aside from any correspondence between an underwriter and municipal advisor mandated by a regulatory authority, no underwriter is required to speak directly with or send documents directly to the municipal advisor unless specifically directed to do so by the Authority.

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