Purpose Investment
Investment property acquired to carry out the purpose of a governmental program for which the bonds are issued (i.e., conduit loans, mortgage notes, mortgage-backed securities and student loan obligations).
bond-basics
Non-Purpose Investments
Investment property other than Purpose Investments.
In Contrast With
Start with the Bond Basics
Hundreds of Terms and Concepts
Advance Refunding
A type of refunding transaction in which the refunding bonds are issued more than 90 days before the redemption or final maturity, whichever is earlier, of the refunded bonds.