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Investopedia explains 'Bond Resolution'
1. A bond resolution describes how much interest and principal will be paid to bondholders and when, how payments will be made, how bonds may be redeemed and what happens in the event of default. It also describes how the bond funds may be used. Sometimes, such as with revenue bonds, a bond indenture is used instead of a bond resolution to define the legal terms of the bond issue and its financing.
2. For example, a bond resolution might authorize a municipality to issue $10 million in revenue bonds to build a new school.
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