Security
Any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or evidence of any participation in any profit-sharing agreement.
bond-basics
Bond
Evidence of the borrowing by an Issuer and a debt instrument for tax purposes. Each Bond is an agreement on the part of an Issuer to repay the Principal of the Bond in certain amounts and at a specified time or times and to pay Interest from the Dated Date of the Bond to the day it Matures or is redeemed.
All the Bonds
Learn more about the various types of municipal obligations you may encounter.
See Also
Tax-Advantaged Bonds
Includes tax-exempt bonds, tax credit bonds and direct pay bonds.
Start with the Bond Basics
Hundreds of Terms and Concepts
Reasonably Required Reserve or Replacement Fund
A fund maintained to provide security to bondholders that does not exceed the least of (i) 10% of the stated principal amount of the bond issue (issue price if more than a de minimis amount of original issue discount or premium), (ii) the maximum annual principal and interest requirements of the bonds, or (iii) 125%…