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revenue bonds ARE NOT SUBJECT TO Statutory debt limitations are analyzed primarily on the project's ability to generate earnings
(IDBs) funds pay... The principal and interest on the bonds and to....
(IDBs) are issued by.... municipalities or other governmental units construct a facility for a private corporation
(IDB) backed by the full faith and credit of the **CORPORATION**
TRUST INDENTURE CONTAINS (3) 1. application of flow of funds 2. revenue pledge 3. rate covenant
closed-end provision means.... additional issues will have junior liens
PROTECTive covenants found in... the TRUST indenture of a REVENUE bond
associated with GO bonds 1 Voter referendum 2 Limited Tax bond 3 Coterminous debt
" USER CHARGES" would be used to service REVENUE BONDS
Revenue bonds are backed by project earnings (user fees), not taxes, and are generally considered low risk.
which bonds are backed by the taxing authority of the issuer, and are subject to statutory debt limits. ONLY **GO BONDS**
muni variable rate demand obligation interest/coupon Interest... tied to the movements of another specified interest rate coupon... changes and the price remains stable
GO mains source of revenue is.... ad valorem (real estate) taxes
fyi..the FULL taxing power of the municipality backs a general obligation municipal bond GO has least defult risk
Created by: lmb620