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Simple English definitions for legal terms
county bond
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A quick definition of county bond:
A county bond is a type of financial instrument issued by a county government to raise money for various projects or expenses. It is like borrowing money from investors who will receive interest payments until the bond matures. County commissioners, judges, and other county officials are responsible for managing the county's finances and making decisions about issuing bonds. In the past, there were certain counties in England called "counties palatine" that had special legal privileges, but these have been abolished.
A more thorough explanation:
A county bond is a type of bond issued by a county government to raise money for various projects or expenses. It is a way for the county to borrow money from investors and promise to pay it back with interest over time.
For example, a county might issue a bond to fund the construction of a new courthouse or to improve roads and bridges. Investors who buy the bond are essentially lending money to the county and will receive regular interest payments until the bond matures.
County bonds are generally considered to be a safe investment because they are backed by the full faith and credit of the county government. This means that the county has pledged to use its taxing power to repay the bondholders if necessary.