bond-basics

Gross Proceeds

Includes sale proceeds, investment proceeds, transferred proceeds (which, together with sale and investment proceeds equal the “proceeds” of the Bonds) and replacement proceeds, all of which are defined in the Code.


See Also

Code (Internal Revenue)

The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the bonds.

Hudson Yards Rail Yards

Start with the Bond Basics

Net Cash Refunding

The most common type of refunding in which the proceeds, together with interest earnings thereon, are structured to produce sufficient funds to pay the principal, interest, and other expenses on the refunded bonds.