1)Please explain why when a local government issues general obligation bond, it will require voters’ approval whereas when it issues revenue bond, it does not require voters’ approval. 2)What is the...

The University of Queensland
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Management
Management
Government
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Due Date: 10/03/2020
1)Please explain why when a local government issues general obligation bond, it will require voters’ approval whereas when it issues revenue bond, it does not require voters’ approval.
General obligation bonds called as the debt instruments and local government issues General obligation bonds or GO when they required to raise fund for completing or starting the public works. The local government considered general obligation bond as an effective tool for completing the public works and other related activities. They are two types of general obligation bonds one is limited tax general obligation bonds and another one is unlimited tax...