bond-basics

Trustee’s Counsel

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.


Related

  • Reports and Resources

Form Conduit Indenture (2nd Edition)

The second edition of NABL’s sample form conduit indenture and accompanying commentary.


See Also

Trustee

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.

Indenture or Trust Indenture/Agreement

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.

Hudson Yards Rail Yards

Start with the Bond Basics

Preliminary Expenditures

Expenditures for a project that can be financed with proceeds of bonds without obeying the federal income tax rules relating to reimbursements, up to a limit of 20% of the proceeds of the bonds to be issued to finance the project.