This Comment considers whether states and municipalities might benefit from altering prevailing practices regarding security interests and bond issues. After reviewing the primary methods of municipal bond financing and their current treatment by courts, the Comment argues for a broader use of municipal property as collateral for bonds, suggesting the typical connection between revenue stream and revenue source with revenue bonds be broken, and that property be attached to general obligation bonds. The Comment proceeds by exploring some policy implications related to its proposal and concludes that expanded power may be in municipalities’ best interests.
Peter Molk, Broadening the Use of Municipal Mortgages, 27 Yale J. on Reg. 397 (2010)