authority bond

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 ?
Global Banking News-November 24, 2016--BNY Mellon named trustee and paying agent on UK local authority bond
BANKING AND CREDIT NEWS-February 15, 2011--Moody's ends rating on Le Flore County, Le Flore County Public Building Authority bond series(C)2011 M2 COMMUNICATIONS http://www.
M2 EQUITYBITES-February 15, 2011--Moody's ends rating on Le Flore County, Le Flore County Public Building Authority bond series(C)2011 M2 COMMUNICATIONS http://www.
67 million in limited tax general obligation bonds, various series, at 'AA'; --$910,000 taxable revenue development bonds (Lorain County port authority bond fund), series 2003A, at 'AA-'.
Change in School Funding Landscape: Although not anticipated, a notable shift in the level or timing of state funding for school districts could negatively affect the redevelopment authority bond rating.
BANKING AND CREDIT NEWS-2 August 2010-Moody's keeps Louisiana Public Facilities Authority bond at top investment rung(C)1994-2010 M2 COMMUNICATIONS http://www.
BANKING AND CREDIT NEWS-5 July 2010-Moody's corrects Kansas Development Finance Authority bond series to lower rating(C)1994-2010 M2 COMMUNICATIONS http://www.
BANKING AND CREDIT NEWS-24 June 2010-Moody's ends Indiana County Industrial Development Authority bond series rating(C)1994-2010 M2 COMMUNICATIONS http://www.
Lorain County Port Authority (Lorain county Port Authority Bond Fund) development revenue bonds rated 'BBB+';
NEW YORK -- Fitch Ratings places the 'BBB+' ratings on the Toledo-Lucas County Port Authority, Cleveland-Cuyahoga County Port Authority, and Summit County Port Authority bond fund pool programs on Rating Watch Negative.
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.