municipal bond

municipal bond

glossary /

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 […]

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municipal bond

glossary / ,

municipal bond 〈美〉市政债券 由地方自治体发行的一种公债券。作为由地方自治市、镇或其他地方自治体同次发行的一系列证券之一的债务凭证，可以流通并于指定的将来时间偿付，目的在于在市场上销售以筹集直接合理的税源所不能担负的市政府改良开支资金。必要的或合理的市政债券将在数年的期间内得到偿还。 (→municipal securities)

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