Page 14 - Moreno Valley City 2022 Bonded Debt Summary
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                                                                                                                                                        Non-Commitment Debt


                                                                                                                                                        Non-Commitment Debt (also known as Conduit Debt) is a financing


                                                                                                                                                        tool utilized by private companies, non-profit organizations and public


                                                                                                                                                        authorities  that  funds  projects  through  the  issuance  of  tax-exempt

                                                                                                                                                        debt. Conduit financing generally supports capital improvements that


                                                                                                                                                        provide public benefit. The debt is the responsibility of the property


                                                                                                                                                        owner or project developer and the City has no liability for repayment


                                                                                                                                                        of the bonds. The City acts as an agent for the property owners in

                                                                                                                                                        collecting the special tax assessments and forwarding the collections


                                                                                                                                                        to bondholders.
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