What is the primary goal of requiring a certificate of public purpose?

The primary goal of requiring a certificate of public purpose is to allow for the pledge of taxing power for debt. This certificate serves as a formal declaration that the proposed debt issuance is for a public purpose and that the taxing authority will be used to service the debt obligations. It ensures that the funds are being raised for projects that will benefit the public, providing a legal framework for municipalities to borrow against future tax revenues.

When a municipality pledges its taxing power, it essentially assures lenders that it will use the revenue generated from taxes to repay the debt. This enhances the creditworthiness of the issued bonds and can lead to lower interest rates, making it more feasible for the municipality to finance necessary public projects.

The other choices, while related to public finance, do not accurately capture the essential purpose of the certificate. They involve broader concepts of funding and accountability, but the specific link to the pledge of taxing power for debt makes the last option the most relevant in this context.