Series 51: Temporary Periods

Taken from our Series 51 Online Guide

Temporary Periods

Right after a bond is issued, under certain conditions, the IRS allows municipal issuers to invest bond proceeds in higher yielding investments for a “reasonable temporary period,” until the proceeds are needed. For example, if a municipality issues bonds to pay for the construction of several new schools, the municipality is allowed to temporarily invest the proceeds at a higher rate until they are needed for the project. There are several temporary period exceptions, but we will focus on two of the simpler temporary pe

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