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Bond Anticipation Note
(redirected from Bond Anticipation Notes)

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Bond anticipation note (BAN)
A short-term debt instrument issued by a state or municipality to borrow against the proceeds of an upcoming bond issue.
Bond Anticipation Note
A short-term note, usually but not always issued by a municipality, used to finance some project. BANs are often issued with a maturity of one year or less; the proceeds are paid by the issue of a larger bond with a longer maturity. A construction loan note, in which a city finances private construction, is an example of a bond anticipation note. See also: IDC, RAN.
bond anticipation note (BAN)
A short-term municipal security that has its principal repaid from the proceeds of a long-term municipal bond issue that is sold at a later date. Essentially, BANs represent debt that is used until long-term funding is available.
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Fitch Ratings, meanwhile, gave the city a stable rating outlook on the general obligation bond anticipation notes to be sold.
City's rating outlook stumbles; Thin reserves could hurt credit by Telegram & Gazette (Worcester, MA)
Intended to streamline and modernize municipal finance, the Revised Municipal Finance Act (Act 34) authorizes the use of several new types of securities, including bond anticipation notes (BANs), grant anticipation notes (GANs), and limited tax general obligation bonds.
Michigan Modernizes Municipal Finance Law. (New Briefs) by Government Finance Review
7 million commercial paper bond anticipation notes (series 1993A), with series 1998B and series 1998C to refund some outstanding general obligation bonds.
Texas $320.1 Million GO Refunding Bonds Rated 'AA+' - Fitch IBCA - by PR Newswire
 
 
 
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