net revenue pledge


A municipal bond provision whereby it is required that the municipality issuing the bond use net revenues from the specific project that is being financed in order to pay the debt service costs of the issue first. This pledge helps to make the bond issue less risky for the bond holders.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
net returns net salary