Level debt service


 

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Level debt service

A municipal charter provision that debt payments must be relatively equal from year to year so that required revenue projections are easier.



Level debt service

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Provides improved accuracy and efficiency for handling certain orders sent before trading opens. OARS receives, stores, and continuously tabulates market orders up to a specified size routed through the common message switch. It matches buy and sell interest in each stock, calculates imbalances, and reports them to specialists. Seconds after the specialist notifies OARS of an opening price, the system automatically generates and returns execution reports to originating firms, and submits the trade for automatic clearance and settlement.


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