Public Utility Warrants
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Definition of "Public Utility Warrants"
A financial instrument to raise funds by the government or a public utility corporation. A public utility corporation may contract with its consumers to sell them a certain quantity of electricity in the future at a mark-down price against advance payment. This can also be adopted for certain services, such as the government may raise funds for constructing a university with the promise that the warrant holders will be able to get their children educated at a cheaper rate in future for a given number of years.