How is the debt on bonds repaid?
Citizens authorize an increase in the property tax to repay the debt on bonds when they are approved in a referendum. The repayment of bonds is spread out over a number of years, so costs are shared by current and future taxpayers. This provides for more equitable funding by all taxpayers who will benefit from the bond projects. When bonds are issued, taxes increase for citizens to pay the debt.

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1. What is a bond?
2. Why issue bonds?
3. How is the debt on bonds repaid?
4. Are there additional financial implications?
5. When are bond referendums held?
6. What is a bond rating?