Trustee
A commercial bank or trust company with trust powers which acts in a fiduciary capacity for and on behalf of the bondholders by entering into an indenture with the issuer of the bonds.
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Bond Trustee
A Trustee specifically acting in such capacity with respect to an Indenture or Trust Indenture/Agreement.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
See Also
Indenture or Trust Indenture/Agreement
A contract between an issuer and a trustee under which the issuer issues bonds and specifies their maturities, interest rates, redemption provisions, form, exchange provisions, security and other terms.
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Bond Counsel Opinion
A written opinion of nationally recognized bond counsel, delivered to the issuer at the closing, addressing the validity of the bonds and whether and to what extent interest on the bonds is exempt from federal income taxes and from income or other taxes, if any, imposed by the state.