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 ?
Since the project is in its early phases, a plan of finance has yet to be cemented, but the agency may consider a TIFIA loan and parity toll revenue bond issuances.
Securities and Exchange Commission, upgraded the long-term rating on Orange County Transportation Authority, California's (OCTA) $97.795 million of senior lien toll revenue bonds for the 91 Express Lanes program to 'A+' from '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, 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.
New York: Fitch Ratings has upgraded the long-term rating on Orange County Transportation Authority, California's (OCTA) $97.795 million of senior lien toll revenue bonds for the 91 Express Lanes program to 'A+' from 'A'.
Although NCTA anticipates that most of the projects will use traditional financing from toll revenue bonds, the agency is exploring a PPP procurement approach to deliver the Mid-Currituck Bridge.
Also, the invention of the State toll road agency provided a way to fund large-scale projects with toll revenue bonds, with the cost advantage of being able to issue the bonds at tax-exempt rates.
Securities and Exchange Commission, assigned a 'AA-' rating to the West Virginia Parkways Authority's (WVPA) $161 million series 2018 senior lien toll revenue bonds.
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.
New York: Fitch Ratings has assigned a 'AA-' rating to the West Virginia Parkways Authority's (WVPA) $161 million series 2018 senior lien toll revenue bonds.
The closest peers from Fitch's rated portfolio include other ML facilities along highly congested corridors, particularly during peak hours, including the neighboring Orange County Transportation Authority SR-91 Express Lanes (OCTA, toll revenue bonds rated 'A'/Stable Outlook) that connect into RCTC's lanes and have similar tolling mechanics, HOV policy and lane configuration.
The dedicated tax bond rating for the registration fee revenue bonds is not capped by the PTC's fundamental credit quality (subordinate lien toll revenue bonds rated A+/Stable).