Coterminous

Definition - What does Coterminous mean?

Coterminous refers to municipalities that share the same borders and have overlapping debt.

Testopedia explains Coterminous

In certain instances two municipalities will be responsible for the same municipal debt issue.
Ex: A city located within a county may issue a bond that is backed by both the full faith and credit of the city and the county. The debt is then said to be shared, or coterminous debt.

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