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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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).