Editing Municipal bond (section)

==Types of municipal bonds==
The basic types of municipal bonds are:
*'''General obligation bonds:''' Principal and interest are secured by the full faith and credit of the issuer and usually supported by either the issuer's unlimited or limited taxing power. These bonds are usually considered the most secure type of municipal bond, and therefore carry the lowest interest rate. In many cases, general obligation bonds require voter approval to levy the tax required for repayment.<ref name="MSRB Education Center">{{cite web|url=http://www.msrb.org/EducationCenter/Municipal-Market/About.aspx|title=MSRB: About Municipal Securities|website=www.msrb.org|access-date=18 March 2018}}</ref> Bond financing is usually used to finance capital investments, not current operating expenditures.<ref>{{cite journal|last=Vértesy|first=László|date=2020|title=Debt Management Strategies of Local Governments in the EU|url=http://real.mtak.hu/117799/|journal=Pro Publico Bono – Magyar Közigazgatás|volume=8|pages=146–169|doi=10.32575/ppb.2020.1.8|via=REAL-MTAK|doi-access=free}}</ref>
**'''Assessment bonds''' promise repayment based on [[property tax]] assessments of properties located within the issuer's boundaries.  These are generally considered a form of general obligation bond, in that if the assessments fail to provide the required revenue for payment, the government is still obligated to redeem the bonds in full with interest.
*'''Revenue bonds''' promise to repay principal and interest from a specified stream of future income, such as income generated by a water utility from payments by customers. Other public projects financed by revenue bonds include toll roads, bridges, airports, water and sewage treatment facilities, hospitals and subsidized housing.<ref name="MSRB Education Center" />