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
Additional Bonds
Bonds which may be issued in the future under the same master indenture, bond resolution/ordinance, and related documentation upon meeting certain conditions designed to ensure that the revenues available to repay the original bonds, any currently outstanding additional bonds, and the proposed additional bonds will be sufficient (the “additional bonds test”).