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The City of San Jose built a new city hall and financed construction by issuing bonds due in installments over the next 30 years. The bond principal and interest will be paid by a special tax levied on
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The City of San Jose built a new city hall and financed construction by issuing bonds due in installments over the next 30 years. The bond principal and interest will be paid by a special tax levied on property in the City. The revenue received from this special tax should be accounted for in which of the following funds?

User Zumm
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Answer:

Debt service fund.

Step-by-step explanation:

A debt service fund is a cash reserve that is used to pay for the interest and principal payments on certain types of debt.

User Siegmund Nagel
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