Definition of Revenue Anticipation Note (RAN)

short-term debt security issued by a municipality to finance operations, repayable from anticipated future revenues, such as sales tax. These notes are usually a general obligation of the issuing government, and interest income is tax-exempt to the holder.

short-term debt issue of a municipal entity that is to be repaid out of anticipated revenues such as sales taxes. When the taxes are collected, the RAN is paid off. Interest from the note is usually tax-free to RAN holders.

short-term debt issue of a municipal entity that is to be repaid out of anticipated revenues such as sales taxes. When the taxes are collected, the RAN is paid off. Interest from the note is usually tax-free to RAN holders.