Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'special assessment bond'?

A. municipal bond used to fund a development project that is payable from the revenues of an assessment (tax) on the community that is intended to benefit from the project
B. bond secured by a limited revenue source, such as receipts derived from a designated project
C. bond payable from the incremental increase in tax revenues realized from any increase in property value and other economic activity, often designed to capture the economic benefit resulting from a bond financing
D. municipal bond that is backed by the full faith and credit and general resources of the issuing municipality, including its general taxing authority

Answer: municipal bond used to fund a development project that is payable from the revenues of an assessment (tax) on the community that is intended to benefit from the project