Local Authority Bill(redirected from Local Authority Bills)
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.
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