§ 50747 Interim Revenue Bond Certificates

• •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 the receipt, these temporary bonds are a placeholder until the real bonds are ready. Once the real bonds are available, you trade in the temporary ones.