Demand In Bond Market In Riverside
Category:
State:
Multi-State
County:
Riverside
Control #:
US-00415BG
Format:
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 primary role of Stifel, as an underwriter, is to purchase securities for resale to investors in an arm's length commercial transaction. In the further opinion of Bond Counsel, interest (and original issue discount) on the 2009A Bonds is exempt from State of California personal income tax.‒ Administrative expenses may be paid before or after debt service. ▫ Bond market conditions. 3 in 10 said participants in the bond market. The actual interest rates at which the bonds are sold will depend on the bond market at the time of each sale. The Bonds will be payable and secured solely from Lease Revenues (as defined herein), consisting primarily of Base.
