Demand For Bonds In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00415BG
Format:
Word;
Rich Text
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Description
A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.
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OverviewThe Town sells bonds to borrow money to help pay for projects such as streets, sidewalks, parks, greenways, and Town government buildings. Voters in Raleigh and Wake County will also consider bond proposals for local schools, the community college system, and parks and greenways.Investment in energy transition infrastructure will stimulate demand from, and innovation by, firms involved in the transition. Keynes' Growing Belief in Government Intervention.
