REVENUE ANTICIPATION NOTE Definition

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REVENUE ANTICIPATION NOTE (RAN) is a note sold by mu­nicipalities as a temporary financing pending the arrival of certain revenues, which are then used to payoff the note. Usually the income on these notes is exempt from federal income taxes.

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STATED CAPITAL is the declared total amount of money or other resources owned or used to acquire future income or benefits.

CONTINGENCY PLAN is a plan that provides an outline of decisions and measures to be taken if defined circumstances, outside the control of the affected organization, should occur.

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