Series 52: Additional Bonds Covenant

Taken from our MSRB Municipal Securities Representative Qualification Examination

Definition of the term Additional Bonds Covenant...

a bond covenant that stipulates whether or not the issuer may sell additional bonds that share equal claims to the issuer’s pledged revenue. An open-end indenture allows them; a closed-end indenture does not.

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Solomon Exam Prep Study Materials for the Series 52
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