municipal bond
Definition
US term for tax-exempt bond issued by states and political subdivisions (such as cities and counties) to raise funds for certain public works, such as low income houses, bridges, and roads. Municipal bonds are redeemed with interest, and are either backed by the full taxing power of the government (as a general obligation bond) or their repayment is based on the specific revenue generated by the financed project (as a moral obligation bond).
municipal bond is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
municipal bond appears in the definitions of the following terms: special purpose bond, bond bank, insured bond, muni, taxable equivalent yield, ex legal bond, Standard & Poor's Ratings and bond rating agencies
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