Variable Rate Bonds (or Floating Rate Bonds) - Bonds on which the coupon rate can either change to a non-predetermined rate on a known date or dates, or on which the coupon rate can change to a known rate on an unknown date or dates.

Variable Rate Demand Notes - A type of variable rate bond in which the investor has the right to tender the bonds to the remarketing agent at a price of par. Variable Rate Demand Notes may have this tender right as often as daily or as long as annually.

Verification Report - A report or opinion prepared by a certified public accountant verifying that the monies and securities deposited with a Trustee in connection with bonds are sufficient to pay principal of, any premium on, and interest on such bonds at the time(s) specified in the Bond Indenture or Escrow Agreement.

Veterans Administration (VA) - An agency of the United States of America, or any successors to its functions.