Bonds are really important, but tend to be invisible to most of us. We're going to notice the effect bonds have by focusing on the public-sector. State and local governments sometimes want to construct something that costs tens or hundreds of millions of dollars. They have very reliable revenue, in the form of various taxes, but they never have that kind of cash lying around. So what's the solution?

Answer rating: 100% (QA)

The solution for state and local governments to finance large projects is often through issui... View the full answer