A toll revenue bond is a financial promissory note usually issued to generate funds for the construction and/or operation of a public accommodation such as an expressway, bridge, or tunnel.
Funds for the repayment are obtained through revenue raised through collection of tolls from users as a fare for passage.
One example is the 23-mile long Chesapeake Bay Bridge-Tunnel (CBBT) in Virginia, one of the more ambitious such projects which was built in the mid-1960s.
The CBBT was in default of its toll revenue bonds for several years shortly after its completion, but these were repaid as traffic volume increased.
Additional bridges were constructed later to reduce the likelihood of future disruption of revenue due to accidents.