The city’s issuance of bonds don’t affect interest rates as they are driven by the supply and demand of the national municipal bond market. Bond yields are falling, which means that it is less costly for the city to borrow money through the issuance of bonds. Issuing bonds help cities to ensure intergenerational equity by spreading payments for assets and infrastructure over their useful lives. Intergenerational equity relates to equity between present and future generations and considers distribution of resources or burdens between generations. This helps to ensure that residents today are not responsible for paying for the full cost of a project that will continue to benefit residents for decades in the future.