municipal bond

A bond issued by a nonfederal government or governmental unit, such as a state bond to finance local improvements.

• The interest received from a municipal bond may be exempt from federal, state, and local taxes. — Often shortened (in plural) to municipals; munies.

— Also termed municipal security. [Cases: Municipal Corporations 911. C.J.S. Municipal Corporations § 1649.]

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词条贡献者

译员雪梅，国际知名法学院劳动法专业，专注翻译各种与劳动雇佣有关的法律文件。