Revenue Anticipation Note

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Revenue Anticipation Note (RAN)

A short-term municipal debt issue that will be repaid with anticipated revenues, such as sales taxes, from the project.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Revenue Anticipation Note

A municipal bond, with a maturity of one year or less, that is repaid to bondholders with expected revenues from the project the RAN intends to finance. For example, a city may issue an RAN to finance improvements to the local museum. It expects to be able to pay back the bond with money raised on increased ticket sales at the museum after improvements are completed.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

revenue anticipation note (RAN)

A short-term municipal obligation with repayment to be made from a revenue source other than taxes.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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Alternatively, this can be done more formally through direct loans or through private placement of tax or revenue anticipation notes, which have pledges and escrow procedures identical to publicly placed notes.
19 March 2010- S&P on Thursday gave its SP-1+ short-term rating to the Metropolitan Transportation Authority, New York's USD475m (EUR348.5m) revenue anticipation notes (RANs), series 2010.
These include an issuer's policies regarding off balance sheet financings like certificates of participation or lease debt, as well as bond anticipation notes, tax and revenue anticipation notes, and variable-rate demand notes.
State aid may also be intercepted by the state comptroller if the district is late in making required payments to fund local charter schools ($77.5 million in fiscal 2018) and for the purpose of repaying outstanding district revenue anticipation notes (RANs).
To set the context for a financing strategy, the plan describes the various financing vehicles legally available and discusses how they can best be used: general obligation bonds, revenue bonds, commercial paper, revenue anticipation notes, certificates of participation, an asset financing corporation, pay-as-you-go construction, and lease revenue bonds.
Securities and Exchange Commission, assigned an 'F1+' rating to the City of Houston, Texas' (the city) $225 million tax and revenue anticipation notes (TRANs), series 2018.
The political climate heated up recently with the default of hospital revenue anticipation notes by Middlesex County.
--$45 million in revenue anticipation notes at 'F1'.
5 Revenue anticipation notes of the general government should be reported in the
--$700 million 2018-19 tax and revenue anticipation notes (the notes) 'F1+'.