Glossary of Municipal Securities Terms

REIMBURSEMENT RESOLUTION

A resolution declaring an issuer’s official intent to reimburse an original expenditure with proceeds of an obligation. Under federal tax laws, an issuer may not generally reimburse itself with proceeds of tax-exempt bonds for certain expenditures made more than 60 days prior to the issuer adopting an official intent. See: RESOLUTION. Compare: AUTHORIZING RESOLUTION; INDUCEMENT RESOLUTION.

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