bond-basics

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).

Hudson Yards Rail Yards

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Extraordinary Mandatory Redemption

Redemption of the bonds in the case of certain unexpected or one-time events occurring with respect to the bonds or the project financed with the proceeds of the bonds.