If a government is liable for payment of special assessment debt in the event of default by the property owners,then an agency fund must be used.

Name: If a government is liable for payment of special assessment debt in the event of default by the property owners,then an agency fund must be used.
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If a government is liable for payment of special assessment debt in the event of default by the property owners, a debt service fund, not an agency fund, should be used to account for the debt.

If a Government Is Liable for Payment of Special Assessment