Series 7 Munis - Definitions
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Created by:
504Series27 on February 10, 2012
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Municipal Finance Definitions for Series 7 Exam
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8 terms
Terms | Definitions |
|---|---|
 Issuers | State Governements, Legally Constituted Taxing Authorities and Territorial US Possessions |
| Maturity Structures | Term, Serial and Balloon |
| Term Maturity | All principal matures at a single date in the future. Quoted by price like corporates. Called dollar bonds. |
| Serial Maturity | Bonds within an issue mature on different dates according to a predetermined schedule. Quoted on YTM |
| Balloon Maturity | Issuer pays part of a bonds maturity before the final maturity date. Largest portion paid at maturity. |
| Overlapping Debt | Several taxing authorities that draw from the same taxpayers can issue debt 2 or more issuers tax the same property |
| Coterminous Debt | 2 or more taxing agencies that share map and can issue debt seperately. Usually occurs in property taxes |
| Double-Barreled Bonds | Revs with GO features. Interest and principal paid from earnings. Bonds also backed by the taxing power of municipality. Rated and Traded like GOs |
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