Types of Bonds: Limited Bonds
There are a number of different forms of bonds/debt that a school district may issue to meet its financing needs.
Limited Bonds. These bonds are issued in lieu of G.O.’s that have otherwise been authorized by applicable law as described herein. These bonds are payable from a separate property tax levy with no limit on the rate, but the Limitation Law restricts the amount of taxes that can be used to pay the bonds. These bonds are payable from a school district’s debt service extension base.