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Initial Rate Period

    0.01 sec.
Initial Rate Period

The number of months for which the initial interest rate holds on an ARM.

See Adjustable Rate Mortgage (ARM)/How the Interest Rate on an ARM Is Determined.



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The bonds will be issued as long-term adjustable rate revenue bonds with a mandatory put feature at the end of the initial rate period set no earlier than Nov.
Interest has been capitalized through the initial rate period.
Interest for the initial rate period will be paid on the first business day following the end of such period.
 
 
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