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The legal document that describes the rights and obligations of both the bondholders and the issuer is called the bond resolution
What is bond resolution?
The instrument or documents that permit the issuance and sale of municipal securities by the issuer. The issuance of securities is typically allowed in the authorising resolution, and the sale is typically permitted in a different document known as the "sale" or "award" resolution.
The fundamental terms of the bonds are described in an official declaration. It normally provides the most complete description of the bonds' terms and features until maturity, unless and until these terms are updated.
Bond Documents include any agreements, certificates, documents, and instruments delivered in connection with any of the Financing Documents.
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