options for answers

1 orange count Hassiburg, PA Vallejo ,CA

2 Property taxes federal grants user fees

3 revenue general obligation U.S. Treasury

The city of Los Angeles did not have an NFL team until a few years ago, so when it was able to get one an important issue was where the team would play. Cities often help pay for the construction of a new stadium as part of the effort to bring the team to the city, which meant that LA would tap the debt market as part of the deal. Typically, stadiums are financed with revenue bonds rather than relying on the full tax authority of the city. It is quite unusual for a city as large as Los Angeles to file for Chapter 9 protection, but it has happened before, such as in the cases of Detroit and . The latter case was very unusual because it occurred during a strong economic period rather than during a recession when property taxes fall. The story behind that debacle was a bad bet on interest rates by the city Treasurer in 1994, which suffered from a change in Fed policy. More common are cases of Chapter 9 where the problems stem from fiscal budgets that rely on A large number of problems with issuers of muni bonds arise with bonds that do not have the full taxing authority of the city and instead rely on the success of the projects they are attached to