§ 26347 Interim Revenue Bond Issuance

• •Before real bonds are ready, the board can give out temporary ones.
• •These temporary bonds can be in any amount and can have coupons or not.
• •When the real bonds are ready, you swap the temporary ones for the real ones.

Imagine you order a new video game, but it’s not ready yet. The store gives you a temporary receipt to hold your spot.

Just like that receipt, the board can give out temporary bonds until the real ones are ready. When the real bonds arrive, you trade in the temporary ones.