Definition for : Toll revenue bond
A structured Bond originated by a sovereign or local government (such as a municipality in the US) and whereby a transportation infrastructure levying tolls on users is financed by means of a Securitisation of the Future toll Revenues. This can be used to finance motorways, bridges, tunnels, airports, etc.
(See Chapter 21 Other debt products of the Vernimmen)
To know more about it, look at what we have already written on this subject