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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Program Investment
Purpose Investments that meet certain rules set forth in Treasury Regulations Section 1.148-1(b).
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Pricing
In a competitive sale, it is the term used for when the bids on the bonds are received by the issuer. In a negotiated sale, it is the term used for the process and result of the determination by the underwriter(s) and the issuer of the Interest Rates and public offering prices at which the bonds…