Investor Letter

A letter from a purchaser of Bonds in a Private Placement typically acknowledging any transfer restrictions applicable to the Bonds and attesting to the purchaser’s eligibility to purchase the Bonds.

Get it in Writing

Learn more about the various documents involved in a municipal securities transaction.

Hudson Yards Rail Yards

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Hundreds of Terms and Concepts

Escrow Fund

Trust account established in the escrow deposit agreement that holds cash, investments, usually obligations of the federal government or, sometimes, federal agencies, or both, all of which are pledged to the payment of the debt service of the refunded bonds.