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Which of the following statements is TRUE of special tax bonds? They are backed by excise...

Which of the following statements is TRUE of special tax bonds?

They are backed by excise taxes

They are issued by and backed by the full faith and credit of the federal government

They are general obligation bonds

They are backed by charges on the property that benefits
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Answer #1

The following statement is true regarding special tax bond :-

1. They are backed by excise taxes.

They are usually backed by exercise taxes and are repaid using different taxes like excise taxes, special assessment taxes etc.

Why other options are incorrect?.

2.They are not backed by fed govr but municipal or local govt

3. They are not general obligation bonds

4. They are not backed by charges on property

I hope this helps

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