Issuer
A state, political subdivision, agency or authority that borrows money through the sale of bonds or other securities.
bond-basics
Shamberg Powers
The powers identified in Commissioner v. Shamberg’s Estate, 144 F.2d 998 (2d Cir. 1944) as the powers used to identify what is a Political Subdivision of a state or local governmental entity in the United States, specifically, the power of eminent domain, the power to tax, and the police power.
See Also
Political Subdivision
A division of any state or local governmental unit which is a municipal corporation or which has been delegated the right to exercise a sufficient part of the sovereign power of the unit.
Start with the Bond Basics
Hundreds of Terms and Concepts
Offering Document
The document prepared by, or for, the Issuer and distributed to investors to provide disclosure with respect to one or more issues of bonds.