authority bond

authority bond definition - business

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.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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