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.
bond-basics
Millage or Mill
Millage is the percentage of value of property that is used in calculating Taxes. A mill is defined as 1/10 of 1 percent and is multiplied by the assessed value after any exemptions have been subtracted to calculate the taxes.
Dive Deeper on Tax Issues
Learn more about how various aspects of tax law intersect with municipal securities.
