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Updated: January 16, 2018 @ 4:20 pm
January 16, 2018
Municipal bonds or muni bonds are issued by municipalities such as states, counties and local governments to finance projects for public services. The municipal market totals $3.8 trillion in debt outstanding according to this report from SIFMA.Jun 24, 2015Because taxpayers/homeowners are obliged to pay back these bonds with their property taxes, makes it a sure bet for those investing in the bond market. What happened to the days that developers got this funding on their own? Or did they ever?
NO matter how much was authorized MUD bonds are sold at a pace MUD members can afford to repay. Selling them too fast could drive people out of the district or cause the district to default.
Something is just wrong with the picture. One voter, allowing the commitment of so much debt. This public policy needs review.
It is very common for a developer to put a trailer on 200 acres and have 2 people live there during the statutory requirement for voting in that location. Then those individuals call for an election via a petition and the vote. It is how it’s done.
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