Official record

The search results provide excellent external link candidates.

SEC Rule 15c2-12 (Cornell Law): This is a direct legal source for the rule governing disclosure in municipal bonds.⁶
- URL: https://www.law.cornell.edu/cfr/text/17/240.15c2-12 (This is good, direct to regulation)
MSRB Primary Market Disclosures: Provides information on how Official Statements are submitted and rules governing them.⁵
- URL: https://www.msrb.org/Guidance-and-Resources/For-Issuers/Primary-Market-Disclosures (Excellent, direct MSRB site)
SEC Enforcement Action (MCDC Initiative): An example of SEC enforcing disclosure rules in muni market.⁴
- URL: https://www.sec.gov/news/pressrelease/2016-173.html (Perfect, SEC official press release)
Federal Reserve Municipal Liquidity Facility: Although temporary, it shows the Fed's involvement and highlights market distress, which relates to disclosure importance.³
- URL: https://www.federalreserve.gov/monetarypolicy/municipal-liquidity-facility.htm (Good, Fed official site)

All external links are real, live, and from trusted domains (SEC, MSRB, Federal Reserve). I have at least 3 different domains (SEC, MSRB, Federal Reserve).

STEP 2: Write the Article

Now I will write the article, ensuring all requirements are met:

Define [TERM] in plain English in the first sentence.
Naturally introduce [TERM_CATEGORY] in context.
Mention [TERM] at least four times.
Link 3-5 internal concepts from LINK_POOL.
History and Origin: Narrative, one external source.
Key Takeaways: 3-5 bullet points.
Formula and Calculation: Omit, as no formula.
Interpreting: Explain application, 2 internal links.
Hypothetical Example: Clear scenario, 1-2 internal links.
Practical Applications: Real-world, 2-3 internal links, one external.
Limitations and Criticisms: Balanced take, 2-3 internal links, external if possible (MCDC initiative could fit).
[TERM] vs. [RELATED_TERM]: Paragraph/table, link to RELATED_TERM.
FAQs: 3-5 questions, simple answers, 2-3 internal links.
Style: Neutral, third-person, SEC compliant, no forbidden phrases, markdown formatting.
Link Rules: All links once, exact format, no fictional.
Final Check.

Let's begin drafting the article sections based on "Official Statement".

Confidence Score: 5/5 - I have all the necessary information and verified links.

Strategizing complete. I will now generate the article.¹ ²