Purchasing Maine Bonds

To Buy Maine General Obligation Bonds, follow these steps:

Step 1– Be prepared for the general obligation bond early order period in late May or early June.

Maine’s General Obligation Bonds are typically issued one-a-year and go to market in late May or early June. Individual investors are allowed to place purchase orders before other investors. Previously-issued bonds usually are available on the secondary market throughout the year.

Step 2 – Have a brokerage account.

Bonds cannot be purchased directly from the State. Only licensed brokers are allowed to sell securities.

Investors are encouraged to contact brokers and begin a New Account process well in advance of any anticipated purchase. Depending on the broker, internal new account procedures may take some time to process. The State does not endorse any particular broker or brokerage firm. Additionally, the State does not guarantee that a firm will open an account for an investor.

If you are interested in buying previously-issued bonds on the secondary market, any licensed broker may assist you.

If you are interested in buying original-issue bonds, you will need to work with a broker whose firm is participating in the annual new issuance sale. The list of participating firms changes from time to time, so check with your selected broker well in advance of the likely sale date.

Step 3 – Be prepared to invest at least $5,000.

Generally, bonds are sold in $5,000 increments and individual orders may not exceed $1 million. Larger orders are subject to prior approval by the State, its financial advisor or the senior managing underwriter.

Step 4 - Learn about the bonds

Bonds can only be offered through an Official Statement. Download and read Preliminary Official Statements http://www.munios.com/ to learn about the bonds or notes, including their security, maturity dates, the types of projects they finance and other information you may find important to help you make an informed investment decision. This website is not an offer to sell any bonds or notes.
An archive of credit ratings for Maine’s General Obligation Bonds may be viewed at: http://www.maine.gov/treasurer/debts_bonds/bond_ratings.html

Step 5 - Place your order

Contact the broker with whom you have an account, either online or by phone, to get more information about how to buy bonds during the early order period or on the secondary market.

Helpful links:
Securities Industry and Financial Markets Association (SIFMA) http://www.investinginbonds.com/learnmore.asp?catid=8&subcatid=53

Financial Industry Regulatory Authority (FINRA) http://apps.finra.org/investor_Information/smart/bonds/000100.asp

Municipal Securities Rulemaking Board (MSRB) Municipal Bond Term Glossary : http://www.msrb.org/msrb1/glossary/default.asp

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Purchasing Maine Bonds

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