Series 50: Bona Fide Debt Service Fund Exception

Taken from our Series 50 Online Guide

Bona Fide Debt Service Fund Exception

Bona fide debt service fund investment earnings are exempt from rebate requirements under certain circumstances.

A bona fide debt service fund is defined as a fund that is primarily used to match revenues with debt service payments and is depleted each year, except for a reasonably small

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