A restrictive provision contained in a municipal bond indenture that will obligate the bond issuer to first use its revenues in order to pay down the debt servicing costs of the issue. This pledge delegates the issue's operating costs as the second priority. These provisions tend to make the bond issue safer for the bondholders.
Related information about gross revenue pledge:
- Gross Revenue Pledge Definition | Investopedia
A stipulation in a municipal bond indenture that requires the issuer (the municipality selling the bonds to fund a given development project) first to use revenues ...
- Gross Revenue Pledge - Financial Dictionary - The Free Dictionary
A provision in the indentures of some municipal bonds stating that the first priority of the revenue from the bond shall service debt or be set aside to pay the ...
- What is gross revenue pledge? definition and meaning
Definition of gross revenue pledge: A restrictive provision contained in a municipal bond indenture that will obligate the bond issuer to first use its revenues in ...
- Pledged revenues - Municipal Securities Rulemaking Board
Gross Pledge or Gross Revenue Pledge – A pledge that all revenues received will be used for debt service prior to deductions for any costs or expenses.
- Gross Revenue Pledge: Definition from Answers.com
Gross Revenue Pledge A stipulation in a municipal bond indenture that requires the issuer (the municipality selling the bonds to.
- What is Gross Revenue Pledge? - Definition from Testopedia
Gross Revenue Pledge Definition - Gross revenue pledge is a flow of funds pledge for a municipal revenue bond that states that debt service will be...
- Consolidated Public University Revenue Pledges - NACUBO
revenues (even if a gross revenue pledge is provided), the essentiality of the projects, and the legal and structural provi- sions of the offering. These factors could ...
- public finance and borrowing - Minnesota Association of Townships
are pledged, but a gross revenue pledge is permitted in some cases. A revenue bond is typically used for self-supporting utilities, such as health care facilities ...