- Commercial Paper: Commercial paper notes are short-term notes issued in denominations of $100,000 or in an integral multiple of $1,000 in excess of $100,000. The maturity of the notes cannot exceed 270 days from the date of issuance.
- Fixed-Rate Bonds: Debt obligations with fixed interest rates issued in denominations of $5,000 or any integral multiples thereof.
- Tax-Exempt Debt: Debt obligations with interest excluded from gross income for federal income tax purposes and State of Michigan taxation.
- Variable Rate Bonds: Debt obligations with variable interest rate issued in denominations of $100,000 or in an integral multiple of $5,000 in excess of $100,000.
- Taxable Debt: Debt obligations with interest subject to federal and State of Michigan taxation.
Copyright © 2008
Regents of the University of Michigan
Ann Arbor, MI 48109 USA
+1 734 764-1817