participation certificate

(redirected from Certificates of Participation)

Participation Certificate

1. An alternative to a government or municipal bond in which an investor buys a share in the improvements or infrastructure the government entity intends to fund. This contrasts with a bond, in which the investor loans the government or municipality money in order to make these improvements. This is used primarily when the government or municipality has a charter-mandated debt ceiling. In the United States the only entities issuing or guaranteeing participation certificates are Freddie Mac, Fannie Mae, Ginnie Mae, and Sallie Mae.

2. See: International Depository Receipt (IDR).

participation certificate

A certificate indicating ownership in a pool of assets, generally mortgages.
References in periodicals archive ?
Southern California Water Replenishment District revenue certificates of participation capital improvement plan series 2008 (prerefunded maturities only - 84250RBP5, 84250RBG5.
5 million issuance of tax-exempt certificates of participation (the "2016a cops") and $4.
BANKING AND CREDIT NEWS-26 July 2010-S&P lifts Pinal County's certificates of participation rating to A+(C)1994-2010 M2 COMMUNICATIONS http://www.
The court determined that the CLWA had the right to retail water, and issue Certificates of Participation of $75 million as the acquisition cost of the Santa Clarita Water Co.
Tucson (AZ), $21,040,000 refunding certificates of participation series 2009
Request for Proposal: Request for direct loan proposals: not to exceed $69,000,000 refunding certificates of participation, series 2016
Under the plan, if the yet-to-be-determined March bond fails, the board will have to decide whether to borrow money in the financial market by issuing certificates of participation to repay the Measure K account.
NEW YORK -- Fitch Ratings assigns a rating of 'F1+'to the City of Charlotte, North Carolina, $140,000,000 Taxable Commercial Paper Certificates of Participation (NASCAR Hall of Fame Facilities), Series 2007C (CP Certificates).
The successful Contractor will be responsible to provide special counsel services for a comprehensive debt obligation program for competitive and negotiated, taxable and tax exempt instruments including, but not limited to: General Obligation Bonds; General Obligation Refunding Bonds; Sales Tax Bonds; Certificates of Participation (equipment and real estate); Certificates of Participation Refunding (equipment and real estate); Qualified Zone Academy Bonds; Qualified School Construction Bonds; Build America Bonds; Capital Appropriation Bonds; Tax Anticipation Notes; Revenue Anticipation Notes; Bond Anticipation Notes; Capital and Operating Leases; Forward Delivery Agreements; Bank Loans; and any other various short term and long term debt to fulfill the objectives of the District.
Sale of the certificates of participation - which are paid off out of the district's operating funds, not voter-approved bond funds - was handled by O'Melveny & Myers, the downtown law firm the district has sued for $100 million for its handling of the Belmont project.
SAN FRANCISCO -- Fitch has assigned its 'BBB-' rating on the approximately $320 million Central California Joint Powers Health Financing Authority Certificates of Participation (Community Hospitals of Central California Project), series 2007.
The securities, called certificates of participation, are paid for out of general operating funds and the sale was handled by O'Melveny & Myers, the downtown law firm the district has sued for $100 million for its handling of the Belmont project.

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