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Proposition 13: Implications for the Bond Market
Author(s) -
Subbotin Victor T.
Publication year - 1979
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.1002/j.1551-8833.1979.tb04376.x
Subject(s) - proposition , bond , california proposition 13 , prime (order theory) , state (computer science) , economics , capital (architecture) , business , finance , macroeconomics , computer science , geography , archaeology , epistemology , combinatorics , algorithm , philosophy , mathematics
A year ago this month California's Proposition 13 went into effect, with far‐reaching and not yet fully plumbed financial consequences for the state's public agencies. As other states confront the possibility of similar measures restricting the taxing powers of local entities, the California experience is being closely watched. The impact of Proposition 13 on the bond market, the prime source of capital financing for water utilities, is described here.