Answer: D
Explanation: General obligation bonds are a type of municipal bond that are backed by the full faith and credit of the issuing municipality. This means that the municipality pledges to use all available resources to repay the bondholders, including tax revenues and other sources of income.
Typically, the debt service on general obligation bonds is paid using a combination of property taxes and income taxes. However, licensing fees and traffic fines can also be used to pay the debt service in some cases.
Tolls collected at a tunnel located in the municipality would not be used to pay the debt service on general obligation bonds. Instead, these tolls would be used to pay for the construction and maintenance of the tunnel itself.
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