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.
Request for Proposal: Request for direct loan proposals: not to exceed $69,000,000 refunding certificates of participation, series 2016
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.

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