Toll Road & Turnpike Authority Bond

Toll bonds are important types of guarantee bonds that are designed to pay for construction and upkeep costs of toll roads and bridges. Essentially, the toll bond is a guarantee between two parties: the city or state government and the construction contractor responsible for the work on the toll way. Toll bonds usually refer to any type of vehicle pass through that requires a toll, like a toll road, a bridge, an expressway, or a tunnel.