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Under a Bond Refunding, the Proceeds of a New Bond

question 7

True/False

Under a bond refunding, the proceeds of a new bond issuance are either deposited in escrow to pay the debt service on the outstanding bonds when due or used to promptly retire previously issued bonds.


Definitions:

Incentives

Rewards or benefits, often linked to performance, that motivate individuals to act in certain ways.

Downsizing

The elimination of a significant number of employees from an organization.

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