Serial Bond

A bond issue in which a portion of the outstanding bonds matures at regular intervals until eventually all of the bonds have matured. As they mature gradually over a period of years, these bonds are used to finance a project providing regular, level or predictable income streams. Serial bonds are also used to finance projects with regular, level debt payments such as residential developments.

Investopedia Says:
Serial bonds are issued on the same date and are quoted by their yield, as opposed to their price. The maturity date of the final group of serials is usually closely associated with the predicted apex of income streams from the project that the bonds financed.

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Bond issued as one of a set of bonds, each having a specific maturity. Serial bonds, commonly issued by state and municipal governments, are bonds that allow the issuer to amortize bond principal over several years, by having bonds mature at periodic intervals, at, say, every six months. Each bond has its own maturity date, set by a schedule in the initial offering. Contrast with Term Bond.

Bonds that mature in installments rather than at one maturity date. They are typically issued by a municipality. Each bond certificate has a given redemption date. See also Bond.