Bond Resolution/Ordinance
The formal authorization to issue the bonds, adopted by the governing body of the issuer.
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.
The formal authorization to issue the bonds, adopted by the governing body of the issuer.
The fund established as a reserve for payment of debt service on revenue bonds in the event there is insufficient money to make a debt service payment.