Originally Posted by Villages Kahuna

Sidney gave you a good answer below. There are tons of posts regarding the bond associated with each house in The Villages. Just do a search for the word from the black bar at the top of the TOTV home page.

In as few words as possible, think of the bond as the share of the cost of developing the infrastructure of the community that is allocated to each house or piece of property in that community. The developer of any community like TV has a choice of simply burying those costs in the prices of the houses he sells, thereby increasing the selling prices, or keeping it separate and passing it along to home buyers by itself. The reason it's called a "bond" is that after the developer builds the infrastructure (roads, sewers, electrical, water, street lights, etc.) he arranges for the issuance of a revenue bond to repay the expenses he has borne out-of-pocket. The repayment of principal and interest of that revenue bond becomes the obligation of the governmental entity governing the community. Each homeowner's share of those bond expenses are typically passed along each year as a part of the real estate tax bills. (Although each homeowner doe have the option of paying off his portion of the bond in a single payment.) When the term "bond" is used relative to a Villages house, it means that portion of the total revenue bond which has been issued that is the responsibility of each house or property owner.

Occasionally, you'll see a term "bond paid" associated with pre-owned homes. That means that the owner has opted to pay his portion of the bond off in its entirety, meaning that subsequent owners will not have to make any further bond payments. Typically, the fact that the bond has been paid is reflected in a higher asking price for the house.