Toll revenue bond

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Toll revenue bond

A municipal bond that is repaid with revenues from tolls that are paid by users of the public project built with the bond revenue.

Toll Revenue Bond

A municipal bond with a coupon and principal guaranteed by the revenue on a toll road. Generally speaking, a toll revenue bond builds some improvement, such as a bridge or road, and the toll is placed on that road to repay the bond. A toll revenue bond helps some municipalities avoid its debt ceilings.
References in periodicals archive ?
As part of the financing concept, the Skanska team intends to work with Georgia DOT to secure toll revenue bonds and a TIFIA loan.
However, since the projected toll revenues are so substantial ($922 million each year), tax-exempt toll revenue bonds, at no taxpayer expense, would be able to cover 86 percent of the costs necessary to create a seamless network of high-occupancy toll lanes.
The TIFIA assistance consists of a $90 million loan guarantee on subordinated toll revenue bonds and a $37 million line of credit supporting a series of senior toll revenue bonds.
5 million in outstanding expressway toll revenue bonds.
The Bay Area Toll Authority, created in 1998 to administer a $1 base toll collected on seven state-owned bridges in the San Francisco Bay Area, in 2001 sold $400 million of toll revenue bonds in a deal that involved $100 million of fixed-rate bonds and $300 million of three series of variable-rate bonds.
The GO bonds, COs, and pass-through toll revenue bonds are each secured by a limited ad valorem tax pledge levied against all taxable property in the city, limited to the constitutional tax rate of $2.
NEW YORK, May 23 /PRNewswire/ -- Fitch removes the San Joaquin Hills Transportation Corridor Agency's (SJHTCA) $1 billion outstanding senior lien toll revenue bonds from FitchAlert with negative implications and affirms the 'BBB' rating.
The long-term rating assigned to the bond is revised to 'A' with a Stable Outlook based on the underlying rating assigned by Fitch to the Orlando-Orange County Expressway Authority's toll revenue bonds.
9 /PRNewswire/ -- The 'BBB' rating on the San Joaquin Hills Transportation Corridor Agency's (TCA) (Orange County, CA) $1 billion outstanding senior lien toll revenue bonds is placed on FitchAlert with negative implications.
Proceeds from the bonds will be used to refund portions of the county's outstanding pass-through toll revenue bonds for interest savings and to pay the costs associated with issuance.
The pass-through toll revenue bonds are payable from payments received by the county pursuant to a pass-through toll agreement between the county and the Texas Department of Transportation (TxDoT) and are also secured by a property tax limited to $0.
Proceeds from the pass-through toll revenue bonds will finance improvements to the state highway system located in the county.