Bonded Debt

What does Bonded Debt mean in American Law?

The definition of Bonded Debt in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

Debt of a public or private borrower represented by bonds. Especially when the debt is public, there is an implication (though no legal or linguistic necessity) that special measures have been taken to provide for orderly payment, e.g., a formal allocation of future tax revenues to the particular bonded debt.