Debt Limit
Statutory limit on the amount of debt an issuer can incur or have outstanding at any one time.
bond-basics
Guaranteed Investment Contract (GIC)
An investment agreement offered by financial institutions (e.g., banks or insurance companies) which pays a stated rate of return on invested Bond proceeds for a stated term. In order to establish the fair market value of a Guaranteed Investment Contract for purposes of meeting the requirements under the Code and Treasury Regulations for Tax-Exempt Bonds, bids must be sought for Guaranteed Investment Contracts.
Related
An Introduction to Reinvestment Agreements
A publication to provide an overview of Investment Agreements, such as guaranteed investment contracts (GICs), analyze common legal and documentation issues, and highlight many of the key legal provisions included…
