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Which municipal bond has least default risk? Appropriation-backed obligations because the municipal legislature can approve an appropriation from its general fund to service the debt
Which municipal bond has least default risk? Appropriation-backed obligations because the municipal legislature can approve an appropriation from its general fund to service the debt Revenue debt because its debt service is backed by the revenue of the enterprise Debt obligations supported by public credit enhancement programs because it is a moral obligation of the municipal entity General Obligation debt because its debt service is backed by the taxing authority of the municipal entity
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