Question: Even if a call provision is not yet effective , the government can still lock in the savings that would result from a decline in

Even if a call provision is not yet effective

,

the government can still lock in the savings that would result from a decline in prevailing interest rates on its issued bonds. It can do this through a process known as an

(

.

.,

an advance refunding by issuing new debt

)

Question

51

options:

-

substance defeasance

Call Pricing

None of the above

Substance

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