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.

Statutory limit on the amount of debt an issuer can incur or have outstanding at any one time.