What is a bond program?

A bond is a form of a public security. When issued, bonds provide local governments with funds to finance large capital improvements. A bond program includes both the authority to issue bonds and a listing of the purposes for which the funds may be used. General (GO) bond programs require voter approval.

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1. What is a bond program?
2. What is a capital improvement project?
3. What is a proposition, and how does it relate to the bond program?
4. Can funds approved in one proposition be used to fund projects in another proposition?
5. If part of the property tax that I pay goes to fund the debt on capital improvement projects, will the additional projects proposed in result in an increase to my property tax rate?