Glossary of Municipal Securities Terms

EXTRAORDINARY CALL OR REDEMPTION

A mandatory or optional redemption triggered by the occurrence of certain one-time or extraordinary events specified in the bond contract. An extraordinary redemption may be triggered by, among other things, bond proceeds remaining unexpended by a specified date or the loss of the facility financed with the proceeds of the bonds by fire or damage or by eminent domain taking. See: REDEMPTION PROVISIONS.

Search the Glossary

 

Browse Terms by Letter