Debt that has been authorized but not yet issued is called?

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The concept being tested is the distinction between debt that has been authorized versus debt that has actually been issued. Debt that has been authorized but not yet issued is the amount approved by the governing body for borrowing but not yet sold as bonds or notes. It remains as a promise to borrow within the authorized limit, not as actual debt outstanding. This is different from debt that has already been issued and is outstanding, which is what people refer to when they say existing or outstanding debt. It’s also not the same as net debt, which is an accounting measure that subtracts cash and investments from gross debt, or debt outside the debt limit, which would exceed the legal borrowing cap. So the correct term for debt that has been authorized but not yet issued is debt authorized but unissued.