All of the following statements regarding municipal revenue bonds are true EXCEPT:
A) no debt limitation is set by the issuing municipality .
B) revenue bonds can be issued by inter- or intrastate authorities.
C) the maturity of the revenue bond will usually exceed the useful life of the facility being built.
D) the interest and principal are paid from revenue received from the facility.
Answer: C) the maturity of the revenue bond will usually exceed the useful life of the facility being built.