New Money Bond

(redirected from New Money Bonds)

New Money Bond

A mortgage revenue bond that is issued because the issuer has additional leeway to sell private activity bonds. That is, a new money bond is a mortgage revenue bond that would not be issued if the issuer lacked the statutory authority to do so. A new money bond is never a refunding bond.
References in periodicals archive ?
Act 89, enacted in November 2013, prohibits PTC from issuing new money bonds supported with MLF enhancement to support its obligations to PennDOT as of July 1, 2014.
Tenders are invited for senior managing underwriter or co-manager for theissuance of: new money bonds and revenue anticipation notes (rans) for the county.
The reduced interest rate environment of the early 1990s created opportunities to issue new money bonds as well as refinance debt issued in the 1980s.
The authority is issuing its seventh series of new money bonds in the amount of $300 million for the $14 billion MOVE Illinois, 15-year capital program.
The issuance of these new money bonds is expected to occur before the end of calendar year 2014.