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Local Authority Bill |
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Local Authority Bill A debt security issued by a local government. Local authority bills are usually used to raise capital for improvements in infrastructure or other aspects of the municipality. For example, a city or school district may issue a bill to build a new school or a new playground. Risk varies with the municipality and the particular type of municipal bond. The term is most common outside of the United States. See also: Municipal bond. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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