A bond backed solely by a pledge of a specific tax's receipts (such as gasoline tax or cigarette tax).

A municipal bond whose payment of interest and/or principal is contingent upon the collection of a tax imposed against those who will benefit from the use of the funds obtained from the issuance of the bond.

bond secured by one or more designated taxes other than ad valorem taxes.  For example, bonds for a particular purpose might be supported by sales, cigarette, fuel or business license taxes; however, the designated tax does not have to be directly related to the project purpose.  Compare:  GENERAL OBLIGATION BOND.