The Securities and Exchange Commission keeps in mind that community bonds generally fall under two categories:. These bonds rely on the "full faith and credit" of their companies without being protected by any properties. Federal government providers, nevertheless, have full authority to tax their citizens in order to pay their shareholders. These bonds do not count on a government's authority to tax homeowners; rather, the bonds are paid from the income that the bonded task generates.

These bonds require voting approval prior to issuance. Bond offerings needing voter approval or not include funding for tasks such as enhancing a state's infrastructure, including highways and bridges; funding a company's operations; building medical facilities, schools and libraries; and fixing water/wastewater facilities. Various types of bonds have different maturity dates, which are the dates on which the bond company repays its investors their complete principal

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