Sentences with phrase «revenue bonds issued»
He said misconceptions about funding probably arose when the Park Board had to refinance the original 1994 bond issue after archeological, weather and contractor problems created cost overruns that went beyond the original $ 6.2 million revenue bond issue.
http://articles.chicagotribune.com/ Not exact matches
With revenues from the band's winery, golf course, luxury hotel and other ventures as collateral, it can now issue bonds just like municipal, provincial or federal governments — a first in Canada for a native band.
Nonprofit cultural institutions are increasingly issuing bonds as an additional revenue - raising vehicle.
[105] On January 8, 2008, to address ongoing structural budget issues, Governor Corzine proposed a four - part proposal including an overall reduction in spending, a constitutional amendment to require more voter approval for state borrowing, an executive order prohibiting the use of one - time revenues to balance the budget and a controversial plan to raise some $ 38 billion by leasing the Garden State Parkway, the New Jersey Turnpike, and other toll roads for at least 75 years to a new public benefit corporation that could sell bonds secured by future tolls, which it would be allowed to raise by 50 % plus inflation every four years beginning in 2010.
debt obligations of the U.S. government that are issued at various intervals and with various maturities; revenue from these bonds is used to raise capital and / or refund outstanding debt; since Treasury securities are backed by the full faith and credit of the U.S. government, they are generally considered to be free from credit risk and thus typically carry lower yields than other securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasury Auctions
Tax - exempt bonds may be issued under the Internal Revenue Code only by limited types of issuers for limited types of projects.
General Obligation (GO) bonds are municipal bonds backed by the credit and «taxing power» of the issuing jurisdiction rather than the revenue from a given project.
The Park District expects to finance the purchase by issuing alternative revenue bonds, which do not require voter approval.
Woodridge — The Park District has approved issuing $ 5.95 million in alternative revenue bonds to pay for an aquatic center to be built on the southeast corner of 83rd Street and Janes Avenue.
In June and August of 1972, the Park Board issued $ 735,000 in revenue bonds by ordinance to finance the construction of an indoor tennis facility and Forest View Tennis Club opened in 1973 with six indoor tennis courts.
Resnick said the Park District may issue bonds and use the revenue from Pelican Harbor to pay them back.
Park officials issued bonds to pay for the construction of the arena, but expect that the initial cost will eventually be repaid by revenues generated from program and registration fees.
Grayslake Mayor Pat Carey was «dumbfounded» last November when a proposal to issue $ 6.8 million in alternate revenue bonds to build a swimming pool and community center was rejected by voters, even though it would not have raised taxes.
For example, the county could use tax revenue from development projects to pay bonds issued to fund infrastructure, he said, or create an infrastructure bank.
While the city's bond rating was downgraded to A +, the third - highest grade issued by S&P Global Ratings, last year, the agency improved the city's outlook to «stable» due to the city increasing non-property tax revenues, decreasing discretionary spending and securing $ 12.5 million from the state that wasn't an advance on payments the state owes the city for the Empire State Plaza.
Mr. Ravitch's financial plan would impose tough accounting standards on state budgets, allow the state to issue $ 2 billion a year in bonds to help close budget gaps, and give the governor the power to make unilateral cuts when spending and revenues fall out of whack.
City officials said they chose not to issue the bonds because the revenue from the market - rate apartments in the project is expected to finance the affordable housing units.
The new plan also offers a major bow to bondholders and Wall Street credit rating agencies, who might be worried that state bonds — with payments guaranteed by the state's income tax revenues — could face future payment issues if Albany is to rely less on income tax collections.
The city's Industrial Development Agency issued $ 237 million in tax - exempt construction bonds to the owner, Bronx Parking Development, in 2007, but revenues have been far lower than expected since the stadium opened as fans have sought cheaper parking elsewhere or opted to take the train to games.
For example, revenue gained locally through new construction or voter - approved bond issues is exempted from the baseline cap.
In accordance with its statutory powers, the authority has issued bonds, which are secured by a pledge of the revenues collected from tolls on the system.
With the city's tax base wiped out by the hurricane, New Orleans could no longer count on local funding for schools, nor would the tax revenue be available to back a pre-Katrina approved bond issue.
The Board has lease agreements with the PBC to pay principal, interest, and administrative fees for revenue bonds that the PBC issued to finance capital projects for schools that the Board leases from the PBC.
Effective January 1, 2018, school district referenda to exceed revenue limits and to issue bonds will be limited to being held only on regularly - scheduled election days (i.e., the February spring primary or April spring general election, or the August (fall) partisan primary or November general election).
Because the Board has issued alternate revenue bonds for which property tax levies are not extended, these bonds do not count against the legal debt limit imposed by the Illinois School Code.
Charters may be able to issue bonds, though as non-taxing entities, they would not have dedicated tax revenues for debt service.
It shows that, with each successive transaction, the financial burden has resulted in higher debt - per - student costs as UNO has nearly no other source of revenue other than public transfers via direct subsidies, publicly issued bonds and government contracts.
The Parkway's development costs were funded through PPA - issued tax - exempt revenue bonds ($ 354M), a State Infrastructure Bank (SIB) loan ($ 18M), and Federal funding for roadway design ($ 9M).
DOT and SCTIB terminated the loan agreement so SCTIB could issue new tax - exempt bonds backed by the revenues pledged to the TIFIA loan.
The TIFIA loan was issued on a subordinate basis to the senior lien toll revenue bonds.
The Parkway's total development costs were funded through tax - exempt revenue bonds ($ 354 million) issued by PPA, a State Infrastructure Bank loan ($ 18 million) and Federal funding for roadway design ($ 9 million).
The TIFIA loan has been issued on a subordinate basis to the senior lien toll revenue bonds.
They will either use property sales tax revenue or they will issue debt in the form of bonds.
Illiquid asset Immediate - or - cancel Income bond Income statement Indenture Index Indication of interest Individual Retirement Account (IRA) Industrial revenue bonds Inflation Inflation rate Initial public offering Inside market Insider Instinet Institutional investor Intangible drilling and development costs Integration Interbank market Interest Intermarket Trading System (ITS) Interpositioning In - the - money Intrastate offering Intrinsic value Introducing broker / dealers Inventory Inverted head and shoulders pattern Investment Investment adviser Investment Advisers Act of 1940 Investment banker Investment Company Investment Company Act of 1940 Investment contract Investment grade securities Investor brochure In - whole call IOC IPO Issue Issuer
Some bond investors consider general obligation (GO) munis to be safer than revenue bonds because GOs are backed by the full taxing power and creditworthiness of the government entity issuing them.
In addition, Internal Revenue Service Publications 550, «Investment Income and Expenses,» and 1212, «List of Original Issue Discount Instruments,» may provide useful information for investors who buy, hold or sell market discount bonds.
Naked option NASD NASDAQ National Association of Securities Dealers National exchanges National Market System National Medallion Signature Guarantee National Securities Clearing Cooperation (NSCC) National securities exchange NAV Negotiable Negotiated market Negotiated underwriting Net Asset Value Net capital Net capital ratio Net interest cost Net investment income Net revenue pledge Net proceeds Net worth New issue Nine - bond rule NMS No - load fund Nominal quote Nominal yield Non-cumulative Nonparticipating preferred stock Nonrecourse loan Non-systematic risk Non-tax-qualified annuity Notice of public offering Notice of sale NYSE NYSE Composite Index
Tax - exempt bonds may be issued under the Internal Revenue Code only by limited types of issuers for limited types of projects.
Municipalities typically issue secured bonds backed by the revenue anticipated from a specific project.
Secured bonds can also be secured with a revenue stream that comes from the project that the bond issue was used to finance.
Revenue bonds are relatively riskier, since unlike GO bonds, they depend on the success of the specific project they are issued to fund, such as toll bridges or airport facilities, to pay interest to bondholders.
the area or activities to which the funds raised from a municipal bond issue will be directed and, in turn, the source of future bond interest payments and principal repayment; for general obligation bonds, funds raised may be for general purposes, both operating and infrastructure, and payments are secured by the general taxing power of the issuer — usually a state, town, or city; revenue bonds are categorized under terms such as «Utilities» or «Transportation»
also provide a yield table for AAA - rated insured revenue bonds, a useful benchmark for prices of other municipal issues.
The Louisiana State and Adams County Industrial Revenue Bonds are backed by Guaranteed Investment Contracts, or GICs, issued by Executive Life Insurance Company of California («Executive Life»).
Revenue bonds are repaid using revenue generated by the individual project the bond was issued tRevenue bonds are repaid using revenue generated by the individual project the bond was issued trevenue generated by the individual project the bond was issued to fund.
America First Multifamily Investors (ATAX, yield 9.30 %) from Forbes / Lehmann Income Securities Investor America First Multifamily Investors, L.P. (ATAX) was formed for the primary purpose of acquiring a portfolio of federally tax - exempt mortgage revenue bonds that are issued to provide construction and / or permanent financing of residential... Read More
MBIA Corp. issues financial guarantees for municipal bonds, asset - backed and mortgage - backed securities, investor - owned utility bonds, bonds backed by publicly or privately funded public - purpose projects, bonds issued by sovereign and sub-sovereign entities, obligations collateralized by diverse pools of corporate loans and pools of corporate and asset - backed bonds, and bonds backed by other revenue sources such as corporate franchise revenues, both in the new issue and secondary markets.
A review of high - yield debt investments should cover: (1) analysis of the industry, including growth rates, special risks and leading companies; (2) analysis of the bond issuer, including the company's position in its industry; new products; management stability; the outlook for growth in revenues and cash flow as captured in Earnings Before Interest, Taxes, Depreciation and Amortization, also called EBITDA; value of corporate assets and the debt maturity schedule; and (3) analysis of the issue, including special provisions in the «bond indenture,» covenants protecting the bondholder, use of the money raised in bond offerings, debt seniority, secondary market liquidity and call provisions.
MBIA issues financial guarantees for municipal bonds, asset - backed and mortgage - backed securities, investor - owned utility bonds, bonds backed by publicly or privately funded public - purpose projects, bonds issued by sovereign and sub-sovereign entities, obligations collateralized by diverse pools of corporate loans and pools of corporate and asset - backed bonds, and bonds backed by other revenue sources such as corporate franchise revenues, both in the new issue and secondary markets.
If the revenue from the specific project is not sufficient to cover the payments owed to bondholders, then the government entity that issued the bonds is not required to step in and make payments.