Land bonds

Okay, little one, do you like to play with toys? Imagine that you have a really cool toy that you want to share with your friends but you don't want to give them your toy forever. So what do you do? You let them borrow it for a little while, right?

This is kind of what happens with land bonds. A land bond is like a loan that people give to the government to help build and improve things like parks and buildings. The government takes your money and promises to pay you back with interest (extra money) after a certain amount of time, kind of like borrowing that toy from your friend and then giving it back later.

But what happens if the government can't pay you back? Well, that's where the land part comes in. The land bond is usually backed by a piece of land or property that the government owns. So if the government can't pay back the money they borrowed with interest, they have to give up that piece of land or property to the people who lent them the money.

So basically, a land bond is like giving the government money to use for building things, and in return the government promises to pay you back with extra money after a certain amount of time. But just in case they can't pay you back, they promise to give you a piece of land or property that they own.