Laserfiche WebLink
True Interest Cost-A method of calculating bids for new issues of municipal securities that <br /> takes into consideration the time value of money (see "Net Interest Cost"). <br /> Trustee - A bank designated by the issuer.as the custodian of funds and official representative <br /> of bondholders. "Trustees" are appointed to insure compliance with the contract and represent <br /> bondholders to enforce their contract with the issuers. <br /> Underwriting Spread-The difference between the offering.price to the public by the underwriter <br /> and the purchase price the underwriter pays to the issuer. The underwriter's profit, expenses <br /> and selling costs are usually paid from this amount. <br /> Glossary Sources: Public Securities Association, Fundamentals of Municipal Bonds. Third Edition. <br /> Ramsey County, Minnesota, Department of Property Records and Revenue. <br />