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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Special Tax Counsel
An attorney or firm of attorneys engaged to render opinions on the federal and/or state tax exemption for tax-exempt bonds and those aspects of the transaction relating to whether the tax-exempt bonds qualify for federal tax exemption and, in some cases, state tax exemption.