Which statement is not correct? O Revenue bonds are collateralized by the earnings from a specific project. O A revenue bond is less risky than a G.O. bond because it is backed by a specific project and general tax revenues can be used if that is not sufficient. Interest income from Treasury securities is taxable at federal level only, and interest income from municipal bonds is exempt from federal income taxed and most state and local income taxes. O General obligation (G.O.) bonds are backed by the full taxing authority of the municipality. Time Atte 1 H