Payments of principal and interest on general obligation bonds are backed by the full faith, credit, and
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Payments of principal and interest on general obligation bonds are backed by the full faith, credit, and taxing authority of the issuer. Payments of principal and interest on revenue bonds are backed only by the revenues generated from the facility or project that the proceeds of the bonds are financing.
LO.1
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Financial Markets And Institutions
ISBN: 9781259919718
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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