Additional Bonds
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| G.O. bonds that is limited as to rate or amount. | limited tax
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| G.O. secured by a pledge of ad valorem taxes that are NOT limited in rate or amount. | unlimited tax
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| Source of payment: generally payable from the projects' revenue | revenue bonds
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| Notes issued in anticipation of future tax receipts, such as receipts of ad valorem taxes that are due and payable at a set time of year. | Tax Anticipation Notes (TAN)
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| Notes issued in anticipation of receiving future tax receipts and revenues at a future date. | Tax and Revenue Anticipation Notes (TRAN)
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| Notes issued by a governmental unit, usually for capital projects, that are paid from the proceeds of the issuance of long-term bonds. | Bond Anticipation Notes (BAN)
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| Notes issued in anticipation of receving revenues at a future date. | Revenue Anticipation Notes (RAN)
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| Floating rate obligations that have a nominal long-term maturity but have a coupon rate that is reset periodically. The investor has the ooption to put the issue back to the trustee or tender agent at any time with specified notice. | Variable Rate Demand Obligation (VRDO, or multi-modal)
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| Notes issued on the expectation of receiving grant monies, usually from the federal government. The notes are payable from the grant funds, when received. | Grant Anticipation Notes (GAN)
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| Notes issued to fund construction of projects (typically housing projects). They are repaid by the permanent financing, which may be provided from bond proceeds or some pre-arranged commitment, such as a GNMA takeout. | Construction Loan Notes (CLN)
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| A security that has been registered as to both principal and interest. | Fully registered
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| A security that is not available for purchase in physical form. | Book entry
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| Functions of a bond attorney: | Make markets Position trading
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| To charge fees sufficient to provide required pledged revenues | Rate Covenant
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| To promise to carry insurance for the project | Insurance Covenant
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| To operate and maintain the project | Operation and maintenance covenant
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| A fund in which specified revenues are initially placed and from which the moneys for all other funds are drawn | Revenue Fund
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| Monies are placed in reserve to be used to pay debt service if pledged revenues are insufficient to satisfy the debt service requirements. | Debt Service Reserve
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| After Tay Yield Formula | Taxable Yield X 100%-Marginal Tax Bracket
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