North Carolina CAB Field Bonds are special revenue bonds issued by counties and municipalities in North Carolina to finance the construction, improvement, and repair of recreational and sports fields. These bonds are typically issued by local governments to raise funds for public projects such as baseball, softball, soccer, and football fields. The bond proceeds are used to pay for the acquisition, construction, improvement, and repair of the fields. The bonds are backed by a dedicated revenue stream, typically derived from the local hotel/motel tax or other sources. There are three main types of North Carolina CAB Field Bonds: General Obligation Field Bonds, Revenue Field Bonds, and Installment Purchase Field Bonds. General Obligation Field Bonds are backed by the full faith and credit of the issuing jurisdiction, while Revenue Field Bonds are backed by a specific revenue stream such as the hotel/motel tax. Installment Purchase Field Bonds are similar to Revenue Field Bonds but are paid over a period of time and the issuing jurisdiction is not obligated to pay the full amount at one time.