Local Bond Law provides that municipalities and counties ("local units") may borrow money for any capital improvement that lawfully may be made or acquired, or for any purpose for which the local unit lawfully may make an appropriation, except for current expenses or for payment of obligations other than those for temporary financing.

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Prepare for the Rutgers Municipal Capital and Trust Fund Accounting Test. Use our study guide with flashcards and multiple choice questions. Each question provides hints and explanations for clearer understanding. Ensure your success on the test with our comprehensive resources!

Multiple Choice

Local Bond Law provides that municipalities and counties ("local units") may borrow money for any capital improvement that lawfully may be made or acquired, or for any purpose for which the local unit lawfully may make an appropriation, except for current expenses or for payment of obligations other than those for temporary financing.

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