Private Activity Bond (PAB)
The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.
bond-basics
Mortgage Revenue Bond
A Bond issued by a state, certain agencies or authorities or Political Subdivisions to make or purchase loans (including mortgage or other owner financing) with respect to single-family or multifamily residences. As indicated by the name, a principal source of security for the Bonds is mortgages on the financed properties. A Mortgage Revenue Bond may also refer to Bonds issued to finance the construction or acquisition of a public utility.
All the Bonds
Learn more about the various types of municipal obligations you may encounter.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Escrow Trustee (Agent)
The custodian of funds held in the escrow fund and responsible for holding and managing the escrow fund, including any investments in the escrow fund, up to and including the date when the refunded bonds mature or redeemed, whichever is earlier.