Bond Resolution/Ordinance
The formal authorization to issue the bonds, adopted by the governing body of the issuer.
bond-basics
Flow of Funds
A term referring to the order of priority of the receipt, deposit, transfer and application of revenues in the funds and accounts created in an Indenture or a Bond Resolution and may also refer to a document prepared by an Underwriter or Municipal Advisor to show the sources and deposits at the Closing.
See Also
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Hundreds of Terms and Concepts
General Obligation Bond Payable from General Fund (“GFGO”)
A type of general obligation (GO) bond not secured by a specific pledge of taxing power, and in which the issuer cannot be compelled to increase taxes.