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If a Capital Projects Fund Receives the Proceeds of a Long-Term

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If a capital projects fund receives the proceeds of a long-term debt issue that is backed primarily by collections of special assessments,but which is also backed by a primary government in the event that collections of special assessments are insufficient to pay debt service on time,what account should be credited for the debt proceeds,and how should that account be reported in the capital projects fund statement of revenues,expenditures,and changes in fund balance?

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Proceeds of Debt would be an a...

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