221.119 Applicability of plan-lender provisions to financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code.221.120 Allocation of stock collateral to purpose and nonpurpose credits to same customer. Source: The provisions of this Part 221 appear at 63 Fed. 2827, January 16, 1998, effective April 1, 1998, except as otherwise noted. (a) (1) This part imposes credit restrictions upon persons other than brokers or dealers (hereinafter lenders) that extend credit for the purpose of buying or carrying margin stock if the credit is secured directly or indirectly by margin stock. 221.4 Employee stock option, purchase, and ownership plans.
Further, any Local Government can establish a special district within its boundaries and issue debt, payable from taxes or assessments limited to that district, following a referendum of the voters in the district. O.’s” are debt, usually but not necessarily taking the form of bonds, made by a Local Government, representing its full faith and credit and backed by its ad valorem taxing power.
GG: Well, I used to work in Germany and I used to pay 80% taxes.
Could you just give us a brief background on how you got into the silver bullion space?
Debt may also be issued by community improvement districts created by local law and by various state and local authorities and similar entities. Unless another form of financing is specifically authorized and qualified for, a Local Government can issue only its general obligation (“G. A general obligation can be issued for any purpose for which ad valorem taxes may be levied.
General obligations cannot be issued without the assent of a majority of the qualified voters of the Local Government voting in a referendum held for that purpose.