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Rate covenant

Definition:

A provision governing a municipal revenue project financed by a revenue bond issue, which establishes the rates to be charged users of the new facility.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Life expectancy

The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts.

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