overlapping debt

overlapping debt definition - business

overlapping debt

Debt of a municipality that is shared with another political entity. For example, a city may share responsibility with the county in which the city is located for bonds issued by the county to finance a facility such as a public auditorium. Compare underlying debt 1.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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