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.

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Allow Communities to Refinance

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

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Refunding

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

Current Refunding

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

Hudson Yards Rail Yards

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Standby Bond Purchase Agreement

An agreement, usually between an issuer (or borrower), a trustee, and a commercial bank, used to guarantee repurchase of bonds that are subject to short call provisions if such bonds are tendered for purchase by the bondholders and not simultaneously remarketed to and purchased by new bondholders.

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