Special assessments levied for debt service of bonds issued for a special assessment capital project will be accounted for by a debt service fund under which of the following situations? $$\begin{array} { | c | c | c }
\hline & \text { Goverument is secondarily obligated } & \text { Goverument is not secondarily obligated } \
\text { for the debt } & \text { far the debt } \
\hline \mathrm { A } & \text { Yes } & \text { Yes } \
\hline \mathrm { B } & \text { Yes } & \text { No } \
\hline \mathrm { C } & \mathrm { No } & \text { Yes } \
\hline \mathrm { D } & \mathrm { No } & \mathrm { No } \
\hline
\end{array}$$

Question

Special assessments levied for debt service of bonds issued for a special assessment capital project will be accounted for by a debt service fund under which of the following situations? $$\begin{array} { | c | c | c } 
\hline & \text { Goverument is secondarily obligated } & \text { Goverument is not secondarily obligated } \
\text { for the debt } & \text { far the debt } \
\hline \mathrm { A } & \text { Yes } & \text { Yes } \
\hline \mathrm { B } & \text { Yes } & \text { No } \
\hline \mathrm { C } & \mathrm { No } & \text { Yes } \
\hline \mathrm { D } & \mathrm { No } & \mathrm { No } \
\hline
\end{array}$$

Quizplus · Accepted Answer

Special assessments levied for debt service of bonds issued for a special assessment capital project are accounted for in a debt service fund when the government is secondarily obligated for the debt. If the government is not secondarily obligated, the debt service is not accounted for in a debt service fund by the government.

Special Assessments Levied for Debt Service of Bonds Issued for a Special