authority bond

(redirected from Authority Bonds)

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.

authority bond

A bond issued by an authority and having interest and principal payable from revenues generated by the authority. The quality of an authority bond is only as good as the quality of the projects sponsored by the authority. Compare revenue bond.
References in periodicals archive ?
Redevelopment Authority bonds are secured by loan payments from Milwaukee Public Schools (MPS) to Milwaukee.
Assist in securing and consulting with 3 rd parties to assist the Authority in furthering its mission, including communicating with investors and stakeholders who may request information about potential Port Authority bonds, tax incentives or other financial data.
A loophole in a European Union regulation, allowing banks to hold minimal capital against local authority bonds in the US has led many of the regions banks into losses, according to a Reuters report.
8 million, and after adding the value of redeeming the Water Authority bonds issue number (32) which amount to JD (47.
Funding will be through the sale of $55 million in Somerset County Improvement Authority bonds.
At par, the New York City Industrial Development Authority Bonds were privately sold to a total of 29 institutional investors: Series A $275 million of 6.
AUTHORITY BONDS REFLECT COUNTY GUARANTY: The one-notch distinction between the ULTGO and port authority bonds is based on the more narrow pledge of the county's guaranty of non-tax revenues.
Change in State Rating: An upgrade in the state's rating would result in an upgrade to the redevelopment authority bonds, which carry a rating one-notch below the state's 'AA+' IDR.
The CBJ added the amount of JD 16 million is the value of water authority bonds issue number (27) will be matured tomorrow, and the amount JD50 million is the value of the 10th issuance of T.
More than $500 million of the proceeds will be used to refund certain Dormitory Authority bonds issued for capital projects at state institutions or at facilities operated by community-based agencies.
The county has covenanted with the authority in the agreement to levy assessments sufficient to enable the authority to pay debt service on authority bonds first, then pay debt service on outstanding bonds issued by or on behalf of the county for sewer or storm water purposes, fund operating expenses of the county's sewer and storm water resources district and pay the authority's operating expenses.
BANKING AND CREDIT NEWS-29 March 2010-Moody's ends investment status on Alabama Housing Finance Authority bonds on redemption(C)1994-2010 M2 COMMUNICATIONS http://www.