LEASE RENTAL, LEASE REVENUE or LEASEHOLD REVENUE BOND – A bond from an issue that is secured by lease payments made by the party leasing the facilities financed by the issue. Typically, lease rental bonds are used to finance construction of facilities (e.g., schools or office buildings) used by a state or municipality, which leases the facilities from a financing authority. In many cases, lease payments may be subject to annual appropriation or will be made only from revenues associated with the facility financed. In other cases, the leasing state or municipality is obligated to appropriate moneys from its general tax revenues to make lease payments. Compare: CERTIFICATE OF PARTICIPATION. See: ANNUAL APPROPRIATION PLEDGE; NON-APPROPRIATION CLAUSE.