Issuer
A state, political subdivision, agency or authority that borrows money through the sale of bonds or other securities.
bond-basics
Debt Limit
Statutory limit on the amount of debt an Issuer can incur or have outstanding at any one time. Primarily applicable to Governmental Bonds, the statutory or constitutional limit on the amount of debt an Issuer can incur or have outstanding at any one time. A debt limit is often stated as a percentage of the Issuer’s assessed valuation. The types of debt subject to the limit are specified in the statutes or constitution, or in some cases, may have been determined by the courts, and so a Debt Limit may not apply to all Bonds or municipal obligations of an Issuer (e.g., it may not apply to Revenue Bonds, non-appropriation debt or certificates of participation (“COPs”)).
See Also
Start with the Bond Basics
Term of the Week
Pre-Closing
A meeting of all the parties prior to the closing, often held the day before the closing.