Default
Breach of a covenant, promise or duty imposed by the bond, bond resolution/ordinance, an indenture or other financing document.
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.
Learn more about how various aspects of tax law intersect with municipal securities.
Breach of a covenant, promise or duty imposed by the bond, bond resolution/ordinance, an indenture or other financing document.