Form with which a corporation may resolve to obtain a bond for the office of the corporate treasurer.
Tennessee Procure Treasurers Bond - Resolution Form - Corporate Resolutions
State:
Multi-State
Control #:
US-0047-CR
Format:
Word;
Rich Text
Instant download
Description
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
What Is a Municipal Bond? The term ?municipal bond? refers to a type of debt security issued by local, county, and state governments. They are commonly offered to pay for capital expenditures, including the construction of highways, bridges, or schools.
Municipal Bond Resolution means the resolution(s) or ordinance(s) of the governing body of the Municipality authorizing the issuance of the Municipal Securities. Municipal Bond Resolution means that action taken by the Municipality or the School Administrative Unit authorizing the issuance of the Municipal Bonds.
In general, a Bond Resolution is adopted prior to the Closing and even prior to the sale of the Bonds (which occurs when the parties sign the Bond Purchase Agreement or receive Competitive Bids in a Competitive Sale) and typically includes or makes provision for the final terms of the Bonds.
A bond resolution is a document where the issuer authorizes a bond's issuance and sale, along with defining the rights of the respective parties to the bond contract, namely the issuer and the bondholder.
In the event of a default, bondholders seldom lose all of their principal value of the bond. Often, a default could result in the suspension of the coupon payment. Defaulted bonds can become speculative as they can be purchased fairly cheaply.
The Indenture is a contract between the issuer and the bond trustee. The Resolution, just like any other resolution or ordinance of a state or local government, is the evidence of an official action taken by the issuer with regard to the bonds.
