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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First revenues received into the lottery fund are statutorily dedicated to the SBA up to $18 million annually, followed by a separate, subordinate statutory dedication to the education, arts, sciences, and tourism (EAST) debt service fund (Series 2010A), limited to $10 million annually.
Such report shall include (i) the allocation of funds by airport, annually and cumulatively over the preceding five fiscal years, (ii) a review of revenues, expenditures and balances by program for each of the preceding five fiscal years; (iii) a description of the goals, objectives and outcomes for each program funded by the Department; (iv) gaps in funding requested and allocated by program and by airport; and, (v) the statutory dedication of funding to the Metropolitan Washington Airports Authority.
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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