A local government in Iowa issued bonds to the general public to build a community park in the locality.The primary objective of the proposed community park is to enhance the green cover in the locality.Which of the following best describes the bonds issued in this scenario?

Question

Quizplus · Accepted Answer

General obligation bonds are issued by local governments and are backed by the credit and taxing power of the issuing jurisdiction, typically used for projects that benefit the public, such as parks.

A Local Government in Iowa Issued Bonds to the General