Par Value
The stated or face amount of a bond.
bond-basics
Premium
The amount, if any, by which the price paid by the purchaser of a Bond exceeds the Par Value of the Bond. For example, if a $5,000 Bond is purchased for $5,500, there is a $500 Premium.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Preliminary Expenditures
Expenditures for a project that can be financed with proceeds of bonds without obeying the federal income tax rules relating to reimbursements, up to a limit of 20% of the proceeds of the bonds to be issued to finance the project.