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 ?
66 million LA 1 project subordinate lien toll revenue bond anticipation notes (BANs), series 2005 at 'A'.
6 million of senior lien toll revenue bonds for the 91 Express Lanes program at 'A'.
Funding sources for the Ohio River Bridges project include GARVEE bonds, toll revenue bonds, Transportation Infrastructure Finance and Innovation Act (TIFLA) loans, and State and Federal funding.
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.
However, issuance of toll revenue bonds by the private corporation would not represent a liability to the city or the state if toll revenues are not received as anticipated.
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 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.
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.
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.
Proceeds from the pass-through toll revenue bonds will finance improvements to the state highway system located in the county.
The surface transportation debt that Fitch rates takes the form of grant anticipation and revenue vehicle (GARVEE) bonds, state and local gas tax and other DOT service fee-backed bonds, sales and other tax-supported transit system debt, public authority toll revenue bonds, and privately issued concession debt.