Non-Purpose Investments

Investment property other than Purpose Investments.

In Contrast With

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).

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Specimen Bond

A bond which is not authenticated by the trustee or paying agent and which is frequently specifically identified as a specimen bond and is provided in the closing transcripts.