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spent-brr-infrastructure-needs--whrch- irFH�-dl rectly-mbenef tom- the specific-groupfs =which -paid -the -impact -fee.- Borrowing The county uses borrowing as a financing vehicle to raise money for public purposes which are beyond the realm of current cash reserves, operating revenue and reasonable taxation. Borrowing money to pay for capital improvements can be done through either short-term or long-term financing. Short term financing is usually accomplished by the use of bond pools, issuance of notes, private placements with banks and the public placement of Voted General —Obligation debt. Long term financing is usually achieved through the issuance of bonds which are sold on the public market. The county may sell bonds for capital improvements without a referendum of the voters if the pledge used for the bond is a non - ad valorem revenue source. Conversely, any bond issue pledging ad valorem taxes requires approval by a voter referendum. General Obligation Bonds General Obligation Bonds are bonds which are secured by the full faith and credit of the county. General obligation bonds issued by county governments is are secured by a pledge of the issuer's ad valorem taxing power. The amount of ad valorem taxes necessary to pay the debt service are is not subject to the constitutional property tax millage limits. Such bonds constitute debts of the issuer and require approval by election referendum prior to issuance. Since With the maturation of the 1983 -Beach 1990 Library Bonds in 1988 1994, the county has will issued another general obligation bondI. this is a Land Aquisition Bond, approved by voters in November, 1992. the-1998-bibrary-Bond-fssue. Revenue bonds are bonds payable from a specific source of revenue and which do not pledge the full faith and credit of the issuer. Revenue bonds are payable from identified sources of revenue, and do not permit the bond holders to compel taxation or legislative appropriation of funds for payment of debt service. Pledged revenues may be derived from operation of financed projects, grants and excise or other specified non -ad valorem taxes. A public election is not required prior to issuance or validation of such obligations. The county has issued revenue bonds to finance improvements to its sanitary sewer, solid waste, potable water and golf course facilities. Revenue bonds have been issued by the Housing Authority to help finance the provision of more low-income housing