Question

If the bonds were issued under a gross lien revenue pledge, how much in funds were available to pay the bondholders for this year?

Answer 1

If the bonds were issued under a gross lien revenue pledge, Whatever the balance of gross revenues is in funds existed available to pay the bondholders for this year

What is Gross lien revenue pledge?

A gross revenue pledge states that municipal bond issuers will pay creditors' debts out of income before covering other costs. Revenue bonds, obligations that be repaid from a particular source of income rather than the issuer's entire revenues, use gross revenue promises.

A bond is a sort of instrument in which the issuer owes the bearer a debt and is required, depending on the terms, to repay the bond's principal and interest over a predetermined period of time at the bond's maturity date. Interest is often paid at predetermined times. When they need to raise money, governments and businesses issue bonds. By purchasing a bond, you are effectively lending the issuer money. In exchange, they commit to repay you the face amount of the loan on a particular date and to make periodic interest payments—typically twice a year—along the way.

Hence, If the bonds were issued under a gross lien revenue pledge, Whatever the balance of gross revenues is in funds existed available to pay the bondholders for this year.

To learn more about Gross lien revenue pledge refer to:

brainly.com/question/17306050

#SPJ4