A bond where the debt service is payable solely from the revenue generated from the operation of the project being financed or a category of facilities, or from other nontax sources.
These are bonds that are repaid with income from the projects which they are issued to fund. For example, water and sewer bonds are revenue bonds because revenue from water/sewer rates pays off the debt.
State and local agency or industrial development bonds, where the principal and interest are paid only from revenues of the financed project.
Bonds whose principal and interest are secured by specific sources of revenue and do not involve a pledge of the full faith and credit of the state. Revenue bonds are payable from identified sources of revenue which are generally derived from the assets acquired or constructed with bond proceeds. In addition to a pledge of revenues, such bonds sometimes contain a mortgage on the enterprise fund's property.
Bonds issued by a community that are to be paid off with a designated revenue source other than the general taxing powers and revenues of the community.
When a government issues bonds, which do not pledge the full faith and credit of the jurisdiction, it issues limited liability revenue bonds. Typically, pledges are made to dedicate one (1) specific revenue source to repay these bonds. Revenue bonds are not included in the debt limit set by City Charter and under state law do not require voter approval.
Bonds payable from a specific source of revenue and which do not pledge the full faith and credit of the Issuer. Revenue bonds do not permit the bondholders to compel taxation or legislative appropriation of funds not pledged for payment of debt service. Pledged revenues may be derived from the operation of the financed project, grants, and excise or other specified non-ad valorem taxes. Generally, no election is required prior to issuance or validation of revenue bonds.
Bonds secured by the revenues derived from a particular service provided by the issuer.
Are debt securities which have a defined source of anticipated funds to pay both the principal and the interest. These funds come from an activity, project, or revenue source which is not related to a municipality's capacity to enact taxes. These bonds are sometimes viewed as more risky than General Obligation (GOs) Bonds.
Public improvement bonds to be paid from the income generated by said im ments.
Municipal securities backed by earnings or revenues of a project (e.g., tolls for a bridge). econdary Market: The market for outstanding bonds.
A borrowing tool with higher interest rates than general obligation bonds, but does not need voter approval. Based on a revenue-producing project and not municipal taxing power.
Bonds whose principal and interest are payable exclusively from earnings of an enterprise fund. In addition to a pledge of revenues, such bonds sometimes contain a mortgage on the enterprise fund's property.
A type of bond usually issued to construct facilities. The bonds are repaid from revenue produced by the operation of those facilities.
Tax-exempted bonds whose interest payments are dependent upon, secured by, and redeemable from the income generated by a particular project financed by their issuance. They offer higher interest rates and yields than general obligation bonds because of their generally lower credit rating.