A
Certificate of Participation - COP
Certificate of Participation - COP
Image 1 A type of financing where an investor purchases a share of the lease revenues of a program rather than the bond being secured by those revenues. The authority usually uses the proceeds to construct a facility that is leased to the municipality, releasing the municipality from restrictions on the amount of debt that they can incur.
Image 2 I do not have much to add to this description.


Lease

Revenue