Revenue Securities
Chapter 5 is divided into two parts. The first part discusses traditional municipal utility revenue securities, which generally are extremely safe. The second part identifies other types of municipal revenue securities that bring into play a wide variety of additional and often unique considerations.
Traditional Revenue Securities
Traditional municipal revenue securities, like general obligation securities, are extremely strong. The securities are payable from revenues based upon user fees, such as water and wastewater rates. Municipalities are required to collect the user fees. That obligation generally is enforceable under ...
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