authority bond

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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 ?
The $57.5 million project, which is being funded through West Virginia Turnpike Authority bonds, will include work cutting through a mountain positioned between the bridge and the airport.
And if you are looking for bonds offered domestically in the UAE, the examples include Dubai Government bonds, Dubai Electricity and Water Authority bonds, and even the latest sukuk -- Islamic bonds -- issued by the government of Bahrain.
New York State Comptroller Thomas Di Napoli said the states five year capital program calls for $64.9 billion in capital spending through fiscal 2022-2023, including $3.2 billion in new public authority bonds. New York State-supported debt is expected to increase by 20.6 percent, while debt service rockets by 3 percent over that period.
Charlotte, MI, June 30, 2016 --(PR.com)-- Eaton County Treasurer Bob Robinson reported today that on May 26 he successfully negotiated the refunding of Eaton County Building Authority Bonds resulting in a savings of over $1.1 million to the County.
A loophole in a European Union regulation, allowing banks to hold minimal capital against local authority bonds in the US has led many of the regions banks into losses, according to a Reuters report.
And given the hotch-potch of local authority pension funds ripped off by excessive 'management fees', another pounds 1.5 billion or so could be saved by such funds over five years and reinvested in local authority bonds. That would build up a pounds 10 billion local government 'sovereign fund'.
The Volume of Excess Reserves is JD 3.440 Million, including overnight window deposits held at CBJ and after subtracting the value of the new T.Bills issue number (20/2010) which amount to JD 51.8 million, and after adding the value of redeeming the Water Authority bonds issue number (32) which amount to JD (47.5) million.
Funding will be through the sale of $55 million in Somerset County Improvement Authority bonds. The cost is expected to be recouped through the generation of electricity and sale of the solar renewable-energy credit.
A consortium including the Commercial International Bank, HSBC, National Bank of Egypt, Bank Misr and Banque Du Caire won the bid to manage the issuance of the second tranche of the securitization of the New Urban Communities Authority bonds, reported Al-Mal newspaper.
Heywood Hospital is paying for the project through a combination of Health Education Financing Authority bonds, philanthropy and its own reserves.
Local authority bonds could be the major vehicle for the funds raised for this programme.