Is a security issued by a municipality against expected revenues. It has a maximum maturity of one year and is used as a cash management tool.
A short-term borrowing instrument issued in anticipation of a known and quantifiable future revenue source.
A short-term municipal security used by a municipality to help its cash flow. They have a maximum maturity of one year and repayment is based on certain anticipated revenues of the municipality.
A short-term debt instrument that is issued by municipalities and that is to be paid off by future (anticipated) revenue.