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
Start with the Bond Basics
Hundreds of Terms and Concepts
Closing
The date of delivery of a new issue of bonds, at which time the issuer delivers the bonds and the requisite legal documents to the underwriter or other bond purchaser in exchange for the purchase price.