SUMMARY TABLE Appendix B
DEBT TYPE
DESCRIPTIONS
Voter Authorization
Source of Payment
Instrument
Purpose
Interest Rates
General Obligation Bonds
General Purpose
Yes
Taxes
Strongest Credit Best rates
Certifications of Obligation
General Purpose
Taxes and/or Revenues
Same as General Obligation Bonds
No (1)
Approximately 10-15 Basis Points Higher than General Obligation Bonds and Certificates of Obligation
Enterprise Systems
No
Revenues
Revenue Bonds (2)
Public Property Finance Contractual Obligations
Comparable to General Obligation Bonds and Certificates of Obligation
Personal Property
No
Taxes
Comparable to General Obligation Bonds and Certificates of Obligation
General Purpose
Tax Notes
No
Taxes
Approximately 50 to 60 Basis Points Higher than General Obligation Bonds or Certificates of Obligation
Real and Personal Property
Project Revenues (3) or M&O Fund
No
Lease Purchase
1.Publication of notice required; petition during notice period could require election 2.Not typically available for counties Certain personal property lease purchase obligations can be structured as ad valorem tax-backed 3.
4- 27 79
Made with FlippingBook - PDF hosting