Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
bond-basics
Reissuance
Reissuance refers to the deemed new issuance of outstanding Tax-Exempt Bonds for federal tax purposes under Section 1001 of the Code and Treasury Regulations Section 1.1001-3 as a result of certain changes to the terms of the Tax-Exempt Bonds after original issuance of such Tax-Exempt Bonds. It is important to recognize a Reissuance because it is treated as a Current Refunding of Tax-Exempt Bonds. A new information return will need to be timely filed with the IRS and final Rebate compliance will be required for the deemed Refunded Bonds.
Dive Deeper on Tax Issues
Learn more about how various aspects of tax law intersect with municipal securities.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Uniform Commercial Code (“UCC”)
UCC is an abbreviation for the “Uniform Commercial Code,” which governs the transfer of security interests in personal property pursuant to state law.