Bonds are “documents” that the County would issue with a promise to repay the entire amount borrowed, plus interest. Generally, municipal bonds are issued in amounts of $5,000. These bonds appeal to investors because the interest they earn is exempt from federal and state income taxes. We are seeking to issue general obligation bonds, which are backed by the full faith and credit of the County. This means that we repay the bonds with money from the property taxes, which makes the bonds tax-exempt and considered safe as an investment. Other types of bonds that local governments might use are revenue bonds, which are repaid with money from the fees that citizens pay for services (such as water and sewer services).