CHICAGO — Since its creation by the Wisconsin Legislature last year, the Public Finance Authority is spreading the message that while it may have a northern address, its boundaries as a conduit issuer extend across the country.

It is a message heeded by a handful of not-for-profits and other borrowers that have used the agency to access the tax-exempt market in recent months, but it’s also one that has ruffled the feathers of existing local and state-based conduits that question the need for a national issuer and worry about the competition.

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