NONREFUNDABLE BOND is a bond issue that cannot be redeemed for a stated period of time using the proceeds from a new, lower-cost issue to finance the refunding. The bond can still be called without a refunding, but the company must use internal capital or equity funds to retire the issue. This provides some protection to the bondholder if interest rates decline significantly.
PROPRIERTORSHIP see SOLE PROPRIERTORSHIP.
STABILIZED INCOME is the projected planned revenue that is subject to change but represents the best annualized estimate of consistent income.
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