afbd802f_Infrastructure_Replacement__Disadvantage
[Funding Mechanism] General Obligation Bonds [Advantage] � Typically lower in cost because backed by full faith and credit of the issuer � Lower issuance cost � Fewer restrictive covenants [Disadvantage] 
� Debt must be authorized � State restrictions on debt terms and interest rates � Less flexibility in bond structure � Debt limitations � Competition with other government functions for the bond proceeds
Infrastructure Replacement
Disadvantage