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 ?
It will be the first Virginia Public Private Partnership project that includes private funding, in addition to the more traditional toll revenue bond financing, and the first project to provide new travel choices such as express bus and carpooling opportunities where they didn't exist.
66 million LA 1 project subordinate lien toll revenue bond anticipation notes (BANs), series 2005 at 'A'.
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.