Multiple Choice
Which of the following is not usually a requirement of a Debt Service Fund DSF for a term bond issue?
A) The DSF should be used to accumulate the necessary funds to pay the term bonds when they come due.
B) The DSF makes period interest payment on the debt during its life.
C) The DSF will have funded reserves as required by the debt covenant.
D) A DSF that services a term bond issue has no requirements that distinguish it from a DSF that services serial bonds.
Correct Answer:
Verified
Correct Answer:
Verified
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