Verification Report
A document that verifies the mathematical accuracy of information needed to support bond counsel’s conclusions that an advance refunding bond issue is a tax-exempt bond issue and/or that refunded bonds are defeased.
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Useful Life
An accounting estimate of the number of years it is likely for an asset to remain in service for the purpose of cost-effective revenue generation. The Internal Revenue Service (IRS) employs Useful Life for various purposes applicable to Tax-Exempt Bonds.
