bond issued as one of a set of bonds, each having a specific maturity. Serial bonds, commonly issued by state and municipal governments, are bonds that allow the issuer to amortize bond principal over several years, by having bonds mature at periodic intervals, at, say, every six months. Each bond has its own maturity date, set by a schedule in the initial offering. Contrast with term bond.
bond issue, usually of a municipality, with various maturity dates scheduled at regular intervals until the entire issue is retired. Each bond certificate in the series has an indicated redemption date.
bond issue, usually of a municipality, with various maturity dates scheduled at regular intervals until the entire issue is retired. Each bond certificate in the series has an indicated redemption date. Serial bonds are distinguished from term bonds, where the bonds in an issue have the same maturity date, although municipalities will often issue a combination of both types.
