Demand For Bonds And Interest Rate In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-00415BG
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Word;
Rich Text
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Description
A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.
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The City's fixed rate step coupon bonds provide for an increased rate of interest commencing on the step up date if such bonds are not. 1) Open or have a brokerage account: Bonds are sold only through licensed broker-dealers, who can help determine if the bonds are a suitable investment.The Charter School Network Will Use the Bonds to Build a New SevenStory Education Facility in the Bronx, Eventually Serving 1,400 Students. Recycled bonds can only go out a total of 34 years from the initial bond issuance.
