lease-rental bond

lease-rental bond definition - business

lease-rental bond

A long-term state or municipal obligation, the proceeds of which are used to finance public-purpose projects such as police stations and public office buildings. Debt service, along with maintenance and operational expenses, is covered by rental or lease payments from the facilities, although some bonds are also general obligations of the respective issuers.

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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