Series 7: 3.2.1.3 Limited-Tax General Obligation Bonds

Taken from our Series 7 Top-off Online Guide

3.2.1.3 Limited-Tax General Obligation Bonds

General obligation bonds are often unlimited-tax bonds, meaning the issuer has no legal limitation on its power to tax. If a state or local government needs more money to make payments on its bonds, it can raise taxes in sufficient amounts to get it. Some government entities, however, pa

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