Which of the following receives the highest priority of a municipal bond trustee when applying income and revenue derived from a financed toll facility?
A)renewal and replacement fund
B)operation and maintenance fund
C)bond service account fund
D)reserve maintenance fund

Question

Quizplus · Accepted Answer

operation and maintenance fund. This receives the top priority followed by debt service, maintenance reserves, and lastly renewal and replacement.

Which of the Following Receives the Highest Priority of a Municipal