legal opinion

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Legal opinion

A statement, usually written by a specialized law firm, required for a new municipal bond issue stating that the issue is legally acceptable.

Legal Opinion

An opinion by a lawyer or other qualified professional stating that a proposed municipal bond complies with all legal requirements and regulations. It also states whether or not the issue as structured will be exempt from federal taxes. Most municipal bonds are required to have legal opinions before issue.

legal opinion

The statement of a bond counsel that a municipal bond issue is legal under the laws and restrictions of the issuing jurisdiction, and which indicates whether interest on the bonds is exempt from federal income taxes. A legal opinion is generally necessary to bring an issue to market. See also ex-legal.
References in periodicals archive ?
The reactions to "I know it when I see it" emerge against a backdrop of a set of traditional beliefs about the appropriate basis for judicial decisions and the appropriate content of judicial opinions.
So the typical communicative context of judicial opinion writing involves a rich set of common knowledge shared by the authors of the opinions and their intended audience.
If it's not users, it's taxpayers" Carelli points out that many PACER users do access the system for free: Judicial opinions cost nothing to download, and any user who racks up less than $15 per quarter for other materials isn't charged.
there may well be some cases in which a judicial opinion changes
writing judicial opinions can often be formulaic, and the application of
4th DCA 2007), in which the concurring judge explains in a "foreword" his concerns about judicial opinion writing that is "dreary and tedious," and relates his determination to "write some opinions in styles and tones calculated to make legal reasoning clearer for those without law degrees.
This is why judicial opinions, apart from the holdings, are not binding.
But, at times, he breaks from legal convention and writes judicial opinions that sparkle with the wit and literary flair that characterize his novels and short stories.
It is merely the greatest judicial opinion of the last hundred years .
In a judicial opinion, the Federal Appeals Court reminded the school system that it was clear that Congress had intended to make the needs of these youngsters a top priority (see What's Happening on p.
It is, he writes, "the greatest judicial opinion of
A three-Judge bench headed by Chief Justice of Pakistan Iftikhar Muhammad Chaudhry during initial proceedings on the issue has observed that it is one of the important cases before them and the PPP government did right thing to seek a judicial opinion.