A program requiring a down payment of 5% for bond ordinances applies to which municipal actions?

The correct answer is long-term debt obligations because bond ordinances typically pertain to the financing of large-scale municipal projects and expenditures through the issuance of bonds. A down payment requirement of 5% is relevant in this context, as it often applies to the overall project cost financed by the bonds.

In long-term debt obligations, municipalities raise funds for infrastructure improvements, public buildings, or other capital projects that require significant funding over an extended period. The 5% down payment is a common stipulation in such financing arrangements to ensure that the municipality has some equity in the project at the outset.

In contrast, short-term loans usually involve quick financing solutions that do not typically require down payments. Property acquisitions and equipment leases may have different financing structures and do not generally fall under the auspices of standard bond ordinances that include down payment requirements like those cited in the context of long-term debt obligations.