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Debt Service Funds

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If a certain city had six tax-supported bond issues and three special assessment bond issues outstanding, it would be preferable to operating nine separate debt service funds or, at a minimum, one debt service fund for tax supported bonds and one for special assessment bonds?" Do you agree? Explain.

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Solution Summary

This solution discusses debt service funds. The types of funds applicable to special assessment bond issues is discussed, along with the advantages and disadvantages of having one or many funds for various tax and bond issues.

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Actually, even though it is more resource intensive to maintain separate funds for each of the bond issues and assessments, it is preferable. By using a separate debt service fund, or at ...

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