B.1.5.2 Bond Anticipation Notes

B.1.5.2 Bond Anticipation Notes

Bond anticipation notes (BANs) are an interim form of financing or short term borrowing issued by local public agencies to cover initial project costs in anticipation of issuing permanent, long term debt. School districts issue BANs in anticipation of issuing GO Bonds that have been authorized but not yet issued (see Section 3.7.3 Bond Anticipation Notes; Grant Anticipation Notes).