Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
bond-basics
Advance Refunding
A type of refunding transaction in which the Refunding Bonds are issued more than 90 days before the Redemption or final Maturity, whichever is earlier, of the Refunded Bonds.
See Also
Current Refunding
A refunding in which all refunded Bonds are redeemed within ninety days of the issuance of the refunding bonds.
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Hundreds of Terms and Concepts
Temporary Period
The period of time (often set forth in the tax certificate), during which a particular category of proceeds may be invested in higher yielding investments without the issue being treated as arbitrage bonds under Section 148 of the Code.