bond-basics

Program Investment

Purpose Investments that meet certain rules set forth in Treasury Regulations Section 1.148-1(b).

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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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Borrower’s Counsel

An attorney or firm of attorneys serving as counsel to the borrower in connection with a conduit financing.