public housing authority bond

Definition

A type of bond that allows for a portion of the proceeds acquired during the auction of the securities to be used for low-income housing. Public housing authority bonds are sold at auction under the U.S. Department of Housing and Urban Development. Funds acquired through the sale of these bonds may be used for a variety of reasons, including new construction of low-income housing or as a source of funds used to place more individuals in low-income housing.
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public holiday public income notes (PINES)