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An Unlimited Tax General Obligation Debt ________

Question 20

Multiple Choice

An unlimited tax general obligation debt ________.


A) has revenue sources that include corporate and individual income taxes, sales taxes, and property taxes.
B) is the weaker form of general obligation pledge because it is secured by the issuer's unlimited taxing power.
C) is said to be secured by the full faith and credit of the government.
D) is a constrained tax pledge because for such debt there is a statutory boundary on tax rates that the issuer may levy to service the debt.

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