Chapter 5 Flashcards
1
Q
Assessment to downtown businesses for garbage removal or police protection
A
Service type special assessment
2
Q
Longer term projects that require debt financing
A
Construction type special assessment
3
Q
Interest on long term debt is not accrued. It is recognized as an expenditure in the year in which the interest is legally due.
A
Debt service fund
4
Q
Total principal is repayable in a specified number of equal installments over the life of the issue
A
Regular serial bond
5
Q
First installment is delayed for a period of more than one year after issue, but thereafter payments fall on a regular basis
A
Deferred serial bond
6
Q
Tax levy that is only on certain taxpayers.
A
Special assessment
