bond-basics

Advance Refunding

A type of refunding transaction in which the Refunding Bonds are issued more than 90 days before the Redemption or final Maturity, whichever is earlier, of the Refunded Bonds.

Reinstating tax-exempt advance refunding bonds will allow our communities to refinance outstanding debt and achieve greater savings for taxpayers.

Refunding

A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.

A refunding in which all refunded Bonds are redeemed within ninety days of the issuance of the refunding bonds.

The increasing of a rating by a rating agency. Higher ratings indicate higher credit quality.