Investor Letter
A letter from a purchaser of bonds in a private placement typically acknowledging any transfer restrictions applicable to the bonds and attesting to the purchaser’s eligibility to purchase the bonds.
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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.
