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TeachMeFinance.com Airport Revenue Bond -- Bond not subject to tax and issued by an airport authority, state, county or municipality to finance the operations and enlargement of an airport. The general revenues of the authority or lease payments by airlines using airport services stand as security for payment of interest and principal on the bond. Sometimes the financial base of the largest airline using the airport serves as direct backing for the bond, in which case a grater element of risk is introduced, as airlines are usually quite vulnerable to economic downturns. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.