Bond Anticipation Notes (BANs) are temporary debt issued when a community needs to finance a project in advance of the Bond Bank's next scheduled sale. BANs are also issued when a community needs financing for a project in stages, but wants to issue the permanent financing once.
BANs are generally issued for periods up to one year and are renewable. The Bond Bank will assist communities in issuing BANs by acting as financial advisor and offering the BANs to several potential investors nationally.
There is no Bond Bank fee for financial advisory services on BANs, provided the permanent financing is issued through the Bond Bank.