§ 26416 Revenue Bond Issuance Rules

• •The board decides when and how to give out revenue bonds.
• •Revenue bonds are like loans that will be paid back with money made from a project.
• •The board makes the rules for how these bonds are given out.

A city wants to build a new toll bridge but doesn't have enough money right now.

The city board can decide to issue revenue bonds. These bonds are like IOUs that people can buy. The city promises to pay back the money using the tolls collected from the bridge. The board sets the rules for how and when these IOUs are sold.