The Board of Directors May Authorize More Bonds Than Are

question 106

True/False

The board of directors may authorize more bonds than are issued.

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Definitions:

Charges

Fees or financial obligations that are required to be paid as part of a transaction or legal process.

Takings Clause

A provision in the Fifth Amendment of the U.S. Constitution that prohibits the government from taking private property for public use without just compensation.

Public Use

The utilization of land or property by the general public or for a public purpose, often justified for projects involving eminent domain.

Just Compensation

The fair market value that must be paid for property taken by the government through eminent domain.