There are two options available for local community members to have the opportunity to purchase the Molalla River School District’s general obligation bonds. The first, and least complicated, is through a Charles Schwab account. The second option is through any other broker, which would include Edward Jones. There are a few key details that make this sale/purchase different from other investments which the investor should be made aware of:
The investor has to have all accounts setup/paperwork complete prior to the order period on August 21, 2024
The order must be placed during the order period, which is scheduled for the morning of Wednesday, August 21, likely between 7-9am PDT.
The sale process happens quickly and by the end of the order period, it is likely that all bonds will be spoken for and no longer available for purchase.
*These bonds are exempt from federal and state of Oregon income taxes and may not be suitable for all investors. Check with your investment or tax advisors before making a purchase.
Order Through Charles Schwab:
Investor already has an account with Schwab or opens a new account.
Investor must contact a Schwab sales rep to request that an order be placed on their behalf during the anticipated order period
Piper will allocate the order directly to Schwab and the investor when the deal is done
Through Investor’s Current Broker (Edward Jones or Other):
Investor would need to talk to their broker (local agent), and have their broker reach out to the company’s (Edward Jones or other) trading desk
Note: Due to complexity of these trades and payment procedures, brokers may NOT choose accommodate their customers with this type of trade. It will be important to check with the company’s (Edward Jones or other) trading desk in advance on their willingness to accommodate this order.
Investor’s broker’s (Edward Jones or other) trading desk would then need to contact Piper Sandler’s dealer sales person (Ryan Heide) who can then place an order during the period for broker/Edward Jones
Piper will deliver the bonds to that broker, the broker will then allocate them into the investor’s account