The answer is taxes collected to taxes assessed.
The best measure of a municipality's ability to collect the taxes necessary to service general obligation debt is the ratio of taxes collected to taxes assessed. A general obligation bond (GO bond) is a municipal bond that is backed by the credit and taxing power of the issuing jurisdiction rather than revenue from a given project. General obligation bonds are issued with the belief that a municipality will be able to pay its debt obligations through revenues from taxes or projects. No assets are used as collateral.
General obligation bonds (GO bonds) also serve as a way for local governments to raise funds for projects that create a revenue stream for things like roads, parks, utilities, and bridges. General obligation bonds are generally used to fund government projects that will serve the public community.
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