Municipal Advisor Notice

By publicly posting the following information, the Tennessee Housing Development Agency (“THDA”) intends that market participants who provide information to THDA regarding the issuance of municipal securities, municipal financial products, investment of bond proceeds or escrow investments receive and rely on this statement for purposes of the registered municipal advisor exemption to the Municipal Advisor Rules of the SEC.

THDA is represented by CSG Advisors Incorporated (“CSG”) as its financial advisor. THDA relies on CSG for advice regarding outstanding municipal securities, the issuance of future municipal securities, municipal financial products, the investment of bond proceeds, escrow investments, and other matters within the scope of the agreement between CSG and the Comptroller of the State of Tennessee on behalf of THDA. Further, THDA is an institutional buyer and expects to execute transactions regarding the investment of bond proceeds and escrow investments for THDA’s own account in arm’s length commercial transactions.

CSG is a registered, independent municipal advisor registered with the SEC and the MSRB (Number K0547). The CSG personnel providing services to THDA are David Jones, Tim Rittenhouse, Eric Olson, Mark Kaveny and Teresa Keefer and none of them were associated with an underwriter within the two years preceding July 1, 2014.