Notes issued by public agencies to obtain temporary financing for Projects that will eventually be financed on a long-term basis (and the BAN repaid) through the sale of Bonds.
a note issued in anticipation of later issuance of bonds. BANs are usually payable from the proceeds of the sale of the bonds. Sewerage System Revenue Bond Anticipation Notes are commonly issued by municipalities to temporarily fund a project in anticipation of a later bond sale to the Clean Water Fund Program.
A short-term security issued by a municipality. Payment of the note at maturity will be accomplished with the proceeds of a bond issue.
A tax-exempt note that is issued as temporary or bridge financing until a bond issue is floated. The proceeds from the bond issue are then used to pay off the bond anticipation note.
A short-term municipal debt instrument usually offered on a discount basis.
A municipal note issued in anticipation of later issuance of bonds, usually from the proceeds of the sale of the bonds anticipated or of renewal notes.
A type of municipal security.