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Q

Qualified Private Activity Bond - A bond from which the interest income is exempt from federal income taxation. Major types of qualified bonds include those for housing, student loans, industrial development and solid waste and transportation facilities. However, such income is a preference item or calculation of personal alternative minimum tax under the 1993 code.

R

Redemption Date - Date on which the issuer will retire outstanding debt.

Redemption Price - Price at which bonds are being redeemed by the issuer.

Redemption Type - The particular type of redemption through which the issuer of the municipal security is retiring its outstanding debt.

Registered Bond - A bond that is registered with an issuer or its agents. The transfer of such bonds can be accomplished only by endorsement of the registered owner.

Revenue Bond - A bond of which the debt service is payable solely from the revenue generated from the operation of the project being financed, a category of facilities or from other non-tax sources.

S

Serial Bond - A bond issued to mature in sequence over a period of years. Most general obligation, tax-secured bonds are issued in serial form.

Sinking Fund - Separate accumulation of cash or investments (including earnings on investments) in a fund in accordance with the terms of a trust agreement or indenture, funded by periodic deposits by the issuer (or the entity responsible for debt service), for the purpose of assuring timely availability of monies for payment of debt service. Usually used in connection with term bonds.

Special Tax Bond - A bond backed solely by a pledge of a specific tax's receipts (such as gasoline tax or cigarette tax).

Stock – A part ownership sold in a business or corporation that has offered it, either privately or publicly. Tradable for a varying value, based on many factors such as company profit and new product anticipation. The most variable and potentially lucrative form of investment.