statutory dedication

statutory dedication

The granting of public rights in roads, parks, or other improvements by virtue of recording a subdivision plat on which the developer indicates those areas dedicated to the public use.

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Although general obligations, the infrastructure general obligation bonds will be payable from the statutory dedication of the first $16 million of severance tax revenues (equal to about 10% of 1994-1995 collections).
STRONG STRUCTURAL PROTECTIONS: Bondholders benefit from the statutory dedication of the tax for school capital purposes.
Bondholders benefit from structural protections, including the statutory dedication of the tax for school capital purposes.
Debt ratios are low due for the city's statutory dedication of 20% of income tax revenues to capital projects and debt service payments.
The 'AA' rating is based on the historical reliability of sales tax revenue, the adequacy of debt service coverage and the additional bonds test, and structural protections afforded, including the statutory dedication of the tax for school capital purposes.
8% of market value) due to the statutory dedication of a portion of income tax collections for various capital purposes, as well as the use of enterprise system revenues to cover debt service on certain LTGO bonds.
The 'AA' rating is based on the reliability of sales tax revenue, the adequacy of debt service coverage and the additional bonds test, and structural protections afforded, including the statutory dedication of the tax for school capital purposes.
The bonds are secured by a pledge of and first lien on funds deposited into the State Trunk Line Fund (TLF), which receives certain statutory dedications from the Michigan Transportation Fund (MTF).
Bond issuance was limited to the amount of debt that could be serviced by the fixed annual dedications, and the commission fully leveraged statutory dedications for each series.
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