Municipal Debt (Debt)

Question 1

In order to render an opinion on a new municipal bond issue, the bond counsel will examine

Answer 1

Municipal statutes, state constitution and amendments, tax code and interpretive regulations.

Question 2

The municipal bond counsel opines on what

Answer 2

Validity, legality, and tax exempt status.

Question 3

A bond counsel would render a qualified legal opinion in

Answer 3

Liens on certain real properties prevent the issuer from obtaining clear title to those assets.

Pending litigation against the issuer may affect future revenues from the project.

Question 4

The type of municipal bond issue that would be used to finance the construction of public schools would be a

Answer 4

General Obligation Bond

Question 5

If a municipality wishes to raise its debt limit, the voters must approve via

Answer 5

Public Referendum

Question 6

Constitutional debt limits are imposed on

Answer 6

Non-Self supporting debt