Business and Personal Finance Dictionary

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• SPECIAL ASSESSMENT BONDS OR NOTES
  
  Municipal securities repaid from taxes that are imposed only on the individuals who are considered to directly benefit from public improvements made to a neighborhood or community within the municipality. The most common examples are school district bonds. These bonds are repaid from taxes, most often property taxes, imposed on residents served by the school district. Another example is securities issued to finance installation of a sewer system extended to a neighborhood.
  
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