Municipalities would issue tax exempt commercial paper for all of the following reasons EXCEPT to: A meet a temporary cash shortage due to unforeseen extraordinary expenses B refund an outstanding bond

Municipalities would issue tax exempt commercial paper for all of the following reasons EXCEPT to: A meet a temporary cash shortage due to unforeseen extraordinary expenses B refund an outstanding bond issue C provide construction period financing that will be permanently financed by a future bond sale D smooth out collections of funds that are normally subject to seasonal fluctuations

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