municipal

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Related to Municipals: Municipal Securities

Municipal Bond

A bond issued by a local or state government. Municipal bonds 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 bond to build a new school or a new playground. Municipal bonds are exempt from federal income taxes and sometimes from state and local taxes as well. Municipals usually pay lower coupons than corporate bonds, but because the yield is tax-free, the after-tax basis may be higher for a municipal bond. Risk varies with the municipality and the particular type of municipal bond. It is sometimes called a municipal improvement certificate.

municipal

References in classic literature ?
Giry, why I shouldn't ask you what happened last night to make you and the inspector call in a municipal guard
She has lived practically on the tourist traffic attracted by her annual pageants of Parliaments, Boards, Municipal Councils, etc.
One of such streets is the Cannebiere, and the jest: "If Paris had a Cannebiere it would be a little Marseilles" is the jocular expression of municipal pride.
But his business interests --what about his farm, his cattle, his machinery, his bank stock, his mortgages, his municipal bonds?
It was useless to prolong the discussion: everybody knew the melancholy fate of the few gentlemen who had risked their clean linen in municipal or state politics in New York.
This is prerogative, and not to be limited by our municipal rules.
le Prevot des Marchands to assemble the municipal guard and to march upon the Bastile on the king's immediate service.
She respected their arguments without always listening to them, much as she respected a solid brick wall, or one of those immense municipal buildings which, although they compose the greater part of our cities, have been built day after day and year after year by unknown hands.
Municipal town and rural parish gradually made fresh threads of connection--gradually, as the old stocking gave way to the savings-bank, and the worship of the solar guinea became extinct; while squires and baronets, and even lords who had once lived blamelessly afar from the civic mind, gathered the faultiness of closer acquaintanceship.
It was noted, in following years, that several leaders of workmen built themselves houses and blocks of renting flats and took trips to the old countries, while, more immediately, other leaders and "dark horses" came to political preferment and the control of the municipal government and the municipal moneys.
My public servants have been fools and rogues from the date of your accession to power," replied the State; "my legislative bodies, both State and municipal, are bands of thieves; my taxes are insupportable; my courts are corrupt; my cities are a disgrace to civilisation; my corporations have their hands at the throats of every private interest - all my affairs are in disorder and criminal confusion.
This gentleman, who collected fine editions and was a patron of literature, paid blackmail to a heavy-jowled, black- browed boss of a municipal machine.