Final answer:
A city general obligation bond is most likely to be supported by ad valorem taxes, with property taxes being a primary revenue source for local governments to finance various services.
Step-by-step explanation:
The most likely type of bond to be backed by ad valorem taxes is special tax bonds. Ad valorem taxes are taxes imposed on the value of real estate, and special tax bonds are specifically issued to fund projects that benefit the properties in a particular area. These bonds are secured by the revenue generated from ad valorem taxes, making them the most suitable option in this scenario.
The city general obligation bond is most likely to be backed by ad valorem taxes, which are taxes based on the assessed value of real estate or personal property. Ad valorem taxes are a major source of revenue for local governments, particularly property taxes, which account for about 72 percent of total tax revenue for local governments. Financing for state and local government activities, such as public parks and police forces, often depends on these property taxes.