Johnstown is thinking of a capital project. For each of the given legally feasible alternatives, distinguish the desirability of each from viewpoint of (1) official in charge of administering capital projects funds, and (2) taxpayers residing in governmental unit.

a) $5,000,000 face value of 10-year special assessment bonds can be sold at 98 with semiannual interest at normal annual rate of 6 percent. Discount would be borne by debt service fund.
b) Same as item above, except discount would be borne by capital projects fund.
c) Same bond issue can be sold at 103 with semiannual interest at nominal rate of 9 percent; premium would be transferred to debt service fund.
d) Same as item c above, except premium would be retained by  capital projects fund.