A commercial bank or trust company with trust powers which acts in a fiduciary capacity for and on behalf of the bondholders by entering into an indenture with the issuer of the bonds.
An attorney or firm of attorneys engaged to serve as counsel to the Trustee. Trustee’s Counsel delivers an opinion as to the validity and enforceability as well as the due authorization and execution by the Trustee of the Indenture and other agreements to which the Trustee is party.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
A contract between an issuer and a trustee under which the issuer issues bonds and specifies their maturities, interest rates, redemption provisions, form, exchange provisions, security and other terms.