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Unformatted text preview: Many projects are financed through the issuance of bonds, which are then repaid through special assessments from the benefiting property owners. As the bonds are issued and special assessments are approved, the special assessments are recorded as receivables. If for example a street light has to be added to a neighborhood for $10,000. The city will most likely sell bonds of this amount to finance the construction with repayment to be made using funds collected from the owners of the property benefited....
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This note was uploaded on 04/08/2012 for the course BUS 5643 taught by Professor Katherin during the Spring '11 term at University of Minnesota Duluth.
- Spring '11