Revenue Anticipation Note (RAN)
Definition
A short-term municipal debt issue that will be repaid with anticipated revenues, such as sales taxes, from the project.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Discretionary trust
In the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security. In the context of... Read More
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