Non-Purpose Investments
Investment property other than purpose investments.
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).
See Also
Investment property other than purpose investments.
Purpose investments that meet certain rules set forth in Treasury Regulations Section 1.148-1(b).
A term referring to the order of priority of the receipt, deposit, transfer and application of revenues in the funds and accounts created in an indenture or a bond resolution and may also refer to a document prepared by an underwriter or municipal advisor to show the sources and deposits at the closing.