BOND ANTICIPATION NOTE Definition

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BOND ANTICIPATION NOTE (BAN) is a tax-exempt note that is issued as temporary or bridge financing until a bond issue is floated. The proceeds from the bond issue are then used to payoff the bond anticipation note.

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ACQUISITION COST is the amount, net of both trade and cash discounts, paid for property, plus transportation costs and ancillary costs.

INSTALLMENT AGREEMENT see INSTALLMENT SALE.

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