What is a special assessment bond issue intended for?

A special assessment bond issue is specifically designed to finance municipal improvements that provide benefits to specific properties rather than the general public. This means that the costs of the improvements, funded by the bond, are typically assessed to the properties that directly benefit from those improvements, such as street paving, sidewalks, or sewer systems that enhance the value or usability of the adjacent properties.

In contrast, other types of financing options may be used for funding general public improvements or initiatives that serve broader community interests, which do not target specific properties but rather serve the entire municipality or region.