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.
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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
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.
Bona Fide Debt Service Fund
Fund primarily used to achieve proper match of revenues and debt service within each bond year.
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.
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Selling Group Agreement
An agreement sometimes used in addition to an Agreement Among Underwriters when a selling group consists of more entities than just underwriters in a syndicate.