Anticipation notes are used to meet the short-term cash flow needs of cities or states and provide a way to manage the timing mismatch between their revenues and expenses. There are four different types of anticipation notes:
1. Tax anticipation notes (TANs), used in anticipation of future tax collections
2. Revenue anticipation notes (RANs), issued with the anticipation that non-tax revenue (such as state aid) will pay the debt
3. Tax and revenue anticipation notes (TRANs), which are paid off with a combination of taxes and revenue
4. Bond anticipation notes (BANs), which function as bridge loans and are issued when the municipality expects a future longer-term bond issuance to pay off the note at maturity
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гос. фин. (долговое) обязательство под будущие поступления* (кредитное обязательство местных органов власти, выдвигаемое с целью привлечения средств д... смотреть
Краткосрочное кредитное обязательство местных органов власти, имеющее целью привлечение средств до момента поступления налогов или долгосрочных займов... смотреть