Under a Bond Refunding, the Proceeds of a New Bond

question 7

True/False

Under a bond refunding, the proceeds of a new bond issuance are either deposited in escrow to pay the debt service on the outstanding bonds when due or used to promptly retire previously issued bonds.

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Definitions:

Tsunami

Massive waves in the ocean with lengthy wavelengths resulting from large disturbances, including earthquakes, volcanic activities, or underwater slips.

Volcanic Material

The natural products ejected by a volcano, including lava, ash, volcanic rocks, and gases.

Landslides

The movement of rock, earth, or debris down a slope due to gravity, which can be triggered by factors like rainfall, earthquakes, or human activity.

Tsunami

A series of ocean waves with very long wavelengths caused by large-scale disturbances such as earthquakes under the sea.