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What is the difference between a Special Assessment and a General Obligation Bond?

April 26, 2017assessment Bond difference obligation special

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What is the difference between a Special Assessment and a General Obligation Bond?

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The Town has the authority to levy and collect special assessments on specially benefited property for the purpose of financing this project and with a General Obligation Bond the Town can pledge tax revenues (based on property value) by adopting a resolution or ordinance and calling for a referendum vote.