Question

Under a bond refunding, the proceeds of a new bond issuance are either deposited in escrow to pay the debt service on the outstanding bonds when due or used to promptly retire previously issued bonds.A. TrueB. False

Answer 1

Answer:

The statement is true.

Explanation:

As the funds required for the payment of the outstanding bonds are placed in escrow such that the payment of the previous bonds has been made.