project note


Also found in: Dictionary, Medical, Encyclopedia.

Project Note

A short-term debt security issued by a municipality, usually in order to finance a federally-sponsored real estate or urban renewal project. When project notes are issued for this purpose, they are guaranteed by the U.S. Department of Housing and Urban Development. These are considered very low-risk bonds, and help the issuer cover the costs of a project while also avoiding taking on long-term debt.

project note (PN)

A short-term debt security issued by a municipality to finance a federally sponsored real estate project with repayment guaranteed by a pledge from the United States Department of Housing and Urban Development. These securities are considered very high-grade.
Mentioned in ?
References in periodicals archive ?
The commission was established in 1997 as an independent agency and constituted authority of Kentucky, authorized to issue tax and revenue anticipation notes, project notes, and funding notes for authorized projects and repaid through financing agreements.
For more information on the state's general credit, see the Fitch Release of earlier today, 'Fitch Rates Kentucky Asset/Liability Commission $82MM Project Notes 'AA-' Underlying,' available on the Fitch Ratings web site at www.
7 million outstanding project notes, 1999 General Fund First Series, for debt service savings.
Fitch views EnCana's continued involvement as an offtaker to be a credit strength to the Express project notes.
The Presenter-to-Go SD solution for Palm handhelds includes an annotation feature, which enables presenters to instantly project notes taken on their handhelds during their presentations.
The current ratings of the Express project notes continue to be supported by: 1) the strategic position of the Express System as the dominant crude oil pipeline into the Rocky Mountain region; 2) EnCana continues as one of the long-term contractual offtakers, which Fitch views as a credit positive; 3) the holders of the Express project notes benefit from a dual principal amortization schedule that essentially provides a two-year grace period on repayment of principal under the slower 'rated' amortization, which provides protection against legal payment default.
While Express has covered all its scheduled debt service payments on both the senior and subordinated project notes, the project's total debt service cushion has declined by over 20% below original financial projections.
Project Arena's mobile solution enables Internet access to its software with wireless devices such as mobile phones and personal digital assistants (PDAs), linking users to team contact information, timesheets, and other key application components such as snapshot reports, profiles, and project notes.