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Lease-Rental Bond
(redirected from Lease Rental Bonds)

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Lease-Rental Bond
A long-term municipal or other government bond that is used to finance public works, especially public buildings. Most of the time, the bond is repaid with rents or lease payments from these buildings. Occasionally, however, a lease-rental bond is also a general obligation bond.

lease-rental bond
A long-term state or municipal obligation, the proceeds of which are used to finance public-purpose projects such as police stations and public office buildings. Debt service, along with maintenance and operational expenses, is covered by rental or lease payments from the facilities, although some bonds are also general obligations of the respective issuers.


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5 million in Lease Rental Bonds 1992 Series (Liberty State Park Project) will also remain outstanding after this issue and are affirmed at 'A+'.
The lease rental bonds are payable from lease payments made by the CIB to the MCCRFA.
SECURITY: Lease rental bonds are secured by lease rentals paid by the South Bend Redevelopment Commission.
 
 
 
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