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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.
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 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.
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 ...
An attraction for municipalities is that the bonds allow them to avoid legislated debt restrictions that may be encountered when issuing general obligation bonds. [1] Toll revenue bonds are more speculative than "general obligation" bonds, which are backed (or guaranteed) by tax revenues of a state or local government.
Under Treasury Regulation section 1.141-2, an interest on a private activity bond is not excludable from gross income under section 103(a) of the Internal Revenue Code unless the bond is a qualified bond. Interest from private activity bonds became subject to the Alternative Minimum Tax after the Tax Reform Act of 1986. All things equal, yields ...
Within this time frame, there are short-term bonds (1-3 years), medium-term bonds (4-10 years) and long-term bonds (10 years or more). At the end of this term, known as the maturity date, the full ...
Questions about transparency concerning the $955 million Oklahoma City Public Schools bond issue wound their way through a board meeting on Monday.