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General obligation bonds may be backed by a variety of credits depending on the state and local law; those credits include taxes on local property , regressive taxes and/or all other sources of revenue to the municipality. As a general rule, revenue bonds are backed by the revenue generated by the municipal facility funded by the bond issue.
The basic types of municipal bonds are: General obligation bonds: Principal and interest are secured by the full faith and credit of the issuer and usually supported by either the issuer's unlimited or limited taxing power. These bonds are usually considered the most secure type of municipal bond, and therefore carry the lowest interest rate.
A limited-tax general obligation pledge requires a local government to levy a property tax sufficient to meet its debt service obligations but only up to a statutory limit. Generally, local governments already levy a property tax and can choose to use a portion of the property tax it already levies, use some other revenue stream, or increase ...
The post Municipal Bonds vs. Corporate Bonds appeared first on SmartReads by SmartAsset. Bonds often play an important role in a well-rounded investment portfolio. While both municipal and ...
Treasury bonds (or T-bonds) are a third major type of Treasury security issued to fund the government. They have maturities of 20 or 30 years. They have maturities of 20 or 30 years. Treasury ...
The USTA used bank bonds to finance the project, and plans to pay those bonds back through ticketing and broadcasting revenue. In contrast, public funding -- which is when taxpayers cover the tab ...
A revenue bond is a special type of municipal bond distinguished by its guarantee of repayment solely from revenues generated by a specified revenue-generating entity associated with the purpose of the bonds. Revenue bonds are typically "non-recourse", meaning that in the event of default, the bond holder has no recourse to other governmental ...
The District Court, finding no significant difference between revenue bonds and general obligation bonds, held the nonproperty owner exclusion unconstitutional. [2] It declared the June bond election invalid, since the authorization for the issuance of the bonds was not final on the date of the Cipriano decision.
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