Examples of Demand Obligations in a sentence
On October 1, 2015, the Series 2011A-2 was converted from Index Floaters to Variable Rate Demand Obligations (VRDOs).
The 2009 swaps now hedge the 2011A-3 Indexed Floaters and the 2009D and 2010C2 Variable Rate Demand Obligations (VRDOs).
The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics.
Municipal bonds may include Variable Rate Demand Obligations ("VRDOs"), which are tax-exempt obligations that contain a floating or variable interest rate adjustment formula and right of demand on the part of the holder thereof to receive payment of the unpaid principal balance plus accrued interest upon a short notice period not to exceed seven days.
Variable Rate Demand Obligations (VRDOs) are the traditional means of achieving variable rate exposure and provide governmental issuers with access to a large, well-established liquid market.
Permitted investments shall include: Obligations of the US Treasury; obligations of an agency of the US Government; obligations of and obligations fully guaranteed by any of the fifty (50) states of the United States of Americ a; Auction Preferred Stock (APS) and/or Auction Rate Certificates (ARC) and/or Variable Rate Demand Obligations (VRDO) and corporate bonds with an investment grade rating by a nationally recognized rating service .
Furthermore, the rights of owners of Municipal Bonds and the obligations of the issuer of such Municipal Bonds may be subject to applicable bankruptcy, insolvency and similar laws and court decisions affecting the rights of creditors generally and to general equitable principles, which may limit the enforcement of certain remedies.Variable Rate Demand Obligations (“VRDOs”).
Many issuers have restructured ARSs into alternative investment vehicles such as Variable-Rate Demand Obligations (VRDOs) that incorporate a put option, giving investors guaranteed liquidity.
BACKGROUND Currently, the Airports Authority has $883 million of bank facilities providing liquidity to the Airports Authority’s Variable Rate Demand Obligations and serving as direct variable rate loans.
Such debt includes, but is not limited to, Variable Rate Demand Obligations (“VRDBs”), Auction Rate Securities and Floating Rate Notes.