Final answer:
The purchaser of a new issue of a municipal bond typically receives the Official Statement and the Bond Indenture as the two main documents. These provide detailed information and the legal terms of the bond.
Step-by-step explanation:
When a purchaser acquires a new issue of a municipal bond, they must typically be provided with two key documents. First is the Official Statement, which serves as a detailed disclosure document providing comprehensive information about the bond issue, including its purpose, financial status, terms, and risks. The second important document is the Bond Indenture, also known as the trust indenture or deed of trust, which is a legal contract between the bond issuer and the bond trustee, outlining the specifics of the bond such as its maturity date, coupon rate, payment schedules, and what happens in case of default. Both documents are essential for investors to understand the characteristics and the legal standing of the bond they are purchasing.