Revenue Fund

A fund into which pledged revenues may be required to be deposited as received and from which disbursements are made to pay allowable operations and maintenance expenses and to meet Debt Service requirements and deposit requirements to other funds.

See Also

Revenue Bond

A bond which is to be repaid from a specific source of revenues, typically those produced by the facility or system for which the bond is issued.

Debt Service Reserve Fund

The fund established as a reserve for payment of debt service on revenue bonds in the event there is insufficient money to make a debt service payment.

Flow of Funds

A term referring to the order of priority of the receipt, deposit, transfer and application of revenues in the funds and accounts created in an indenture or a bond resolution and may also refer to a document prepared by an underwriter or municipal advisor to show the sources and deposits at the closing.

Hudson Yards Rail Yards

Start with the Bond Basics

Master (Trust) Indenture

A type of indenture which permits the issuance from time to time of one or more series of bonds under the same indenture in addition to the initial series of bonds.