Citizens within a defined geographic area of Hill City created a special assessment district to facilitate the construction of sidewalks.Hill City was responsible for overseeing the entire construction project.Hill City issued bonds in its own name to pay the contractor for the construction.However, Hill City was not responsible in any manner for the bonds.The bonds were secured by the special assessments that are levied against properties within the special assessment district.Collections of special assessments would be recorded in which of the following funds of Hill City?
A) Special assessment fund.
B) Agency fund.
C) Special revenue fund.
D) Debt service fund.
Correct Answer:
Verified
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