municipal

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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 periodicals archive ?
The passage from a statist mentality to a municipalist one could allow European federalism to avoid both the Titanic scenario and the Apocalypse Now.
He was an industrialist, philanthropist, municipalist and civic reformer, just like his friend and rival Joseph Chamberlain.
Part Three analyses Bookchin's reconstructive notion of a 'legacy of freedom', in which White embarks on an examination of Bookchin's ethical and ontological perspectives, the project to harmonize human communities and the natural environment, and his libertarian municipalist vision of a renewed, directly democratic polis.

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