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Authority Bond |
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Authority bond A bond issued by a government agency or a corporation created to manage a revenue-producing public enterprise. The difference between an authority bond and a municipal bond is that margin protections may be incorporated in the authority bond contract as well as in the legislation that enables the authority.
Authority Bond A bond issued by an authority, especially a government, that is repaid to bondholders with expected revenues from the project that the authority bond intends to finance. For example, a city may issue an authority to finance improvements to the local museum. It expects to be able to pay back the bond with money raised on increased ticket sales at the museum after improvements are completed. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Citibank FSB funded, for example, more than 100 loans totaling more than $5 million under the Florida Housing Finance Agency Homeowner Mortgage Revenue Bond Program and the Dade County Housing Finance Authority Bond Program, which provided below-market interest rate mortgages to eligible first-time home buyers. We sold the bonds on Wednesday morning as we planned -- and got the best interest rate we've ever had on a Port Authority bond issue. Forty other local units have program loans financed by authority bond issuance. |
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