Project Notes

Project Notes

A short-term debt obligation issued to finance a project or endeavor past a specified milestone, or to fund multiple small projects on a short-term basis. Project notes are often used by municipalities to fund urban renewal programs and are guaranteed by the U.S Department of Housing and Urban Development.

Notes:

Occasionally, organizations need funding for short-term projects that require one-time injections of cash to finance. Rather than issue long-term debt or seek alternative financing arrangements, short-term notes can be issued with the specific project written into the indenture so that the funds must be used for that purpose.

See also: Commercial Paper, Debt Financing, Indenture, Money Market, Municipal Bond, Project Finance, Short Term

---

Project notes (PN)

Notes issued by municipalities to finance federally sponsored programs in urban renewal and housing and guaranteed by the U.S. Department of Housing and Urban Development.