What type of bond issue features maturities every year over a period of years?

The type of bond issue that features maturities every year over a period of years is known as a serial bond. This structure allows for portions of the total bond issue to mature and be repaid at regular intervals, typically annually. Each maturity represents a specific segment of the total bond, which provides flexibility for the issuer in managing cash flow and for investors in terms of receiving periodic payments.

In contrast, other types of bonds listed in the options have different characteristics. For example, revenue bonds are typically issued to finance specific projects and are repaid from the income generated by those projects, rather than having staggered maturities. Warrants provide the holder the right to purchase a company’s stock at a specified price but do not involve regular maturity payments like bonds. Notes typically represent short-term borrowing needs and may not adhere to the longer maturity schedule found in serial bonds. Thus, understanding the recurring nature of the maturities in a serial bond issue helps clarify why it is the correct choice in this context.