Registrar
The person or entity responsible for maintaining records on behalf of the issuer for the purpose of recording the names of the owners of registered bonds.
bond-basics
Registered Bond
A Bond whose owner is designated on records maintained for this purpose by a Registrar, often the Paying Agent or Trustee. Transfers of the Bonds occurs only by a transfer on these records. The Principal and Interest on “fully registered” Bonds is paid directly by check (or other fund transfer) to the registered owner.
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Private Business Use (PBU) and Tests
Any use of Bond proceeds in a trade or business carried on by a person other than a governmental unit. The private business tests are used in part to establish whether a bond is a private activity bond (PAB).