Bond Resolution

Issuer legal document which details the mechanics of the bond issuer, security features, covenants, events of default and other key features of the issue?s legal structure. Indentures and trust agreements are functionally similar types of documents, and the use of each depends on the individual issue and issuer.

REMARKS: A bond is a debt security, in which the authorized issuer owes the holders a debt and is obliged to repay the principal and interest (the coupon) at a later date, termed maturity. A bond is simply a loan in the form of a security with different terminology. The issuer is equivalent to the borrower, the bond holder to the lender, and the coupon to the interest.