### Question
How does the law define eligible debt financing instrument?


### Answer
Under *23 U.S.C. § 122*, **eligible debt financing instrument** is defined as:

> a bond or other debt financing instrument, including a note, certificate, mortgage, or lease agreement, issued by a State or political subdivision of a State or a public authority, the proceeds of which are used for an eligible project under this title

#### Citation:
  - *23 U.S.C. § 122*
  - Heading: **CHAPTER 1-FEDERAL-AID HIGHWAYS**

