Subject |
Date Published |
Contributer |
Language |
Total Questions |
File Name |
Finance |
14th February 2009 |
Karen Myers |
USA |
45 |
wbe23.zip |
Right click and select "Save File as" |
|
Nemo James - Singer Songwriter
Bond |
An interest bearing promise to pay a specified sum of money the principal amount due on a specific date |
Bond Counsel |
Legal counsel hired by the issuer to ensure that bonds are in compliance with applicable laws and procedures |
Bond Insurance |
An optional policy purchased by the issuer to insure timely payment of principal and interest to bondholders |
Bond Rating |
Designation assigned by credit rating agencies to give indication of credit quality |
Bond Resolution |
Resolution authorizing the issuance of securities, approving the Notice of Sale and the Official Statement. The resolution also contains the covenants and restrictions of the issue |
Bondholder |
Any person who is the bearer of any outstanding bond registered to the bearer or not registered. Also means the registered owner of a registered bond |
Callable Bonds |
Bonds that are redeemable by the issuer prior to the maturity date at a specified price at or above par. May be accomplished by refunding |
Closing Date |
The date on which all documents are finalized and signed. After an issue is declared to be closed, bond counsel authorizes the exchange of money and securities, |
Competitive Bid |
A sale of municipal securities by an issuer in which the underwriters or syndicates of underwriters submit sealed bids to purchase the securities. This is contrasted with a negotiated underwriting |
Conversion to Fixed Rate |
Conversion of a variable or floating interest rate to a Fixed rate. May occur automatically under predetermined conditions or may occur at the option of the issuer. |
Costs of Issuance |
Expenses paid by the issuer related to the authorization sale and issuance of bonds or notes |
Credit Enhancement |
A credit support purchased by the issuer to raise the credit rating on a debt issue. |
Debt Service Fund |
Moneys pledged and set aside to repay debt. May be held by the issuer or the trustee |
Default |
Failure to pay principal or interest promptly when due |
Defease |
To set aside sufficient money to retire outstanding debt when due. A full defeasance results in release from covenants and contractual obligations contained in the bond documents |