Business, Legal & Accounting Glossary
Notes that are typically issued by states and municipalities in order to obtain interim financing for projects that will eventually be funded long term through the sale of a bond issue. These notes are typically short term in their duration – with a typical maturity of one year or less – but not always. The proceeds are usually paid by the bond issue of a larger bond with a longer maturity.
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This glossary post was last updated: 19th November, 2021 | 0 Views.