definitions

municipal bond

noun

a bond issued by a state, county, city, or town, or by a state authority or agency to finance projects.

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Nearby words

muni, paul, munic., munich, munich pact, municipal, municipal bond, municipal bond fund, municipal bonds, municipal corporation, municipal court, municipalism
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

Culture definitions for municipal bonds

municipal bonds

Bonds issued by nonprofit bodies such as cities, public hospitals, and school boards. They bear relatively low interest rates, but accrued interest is exempt from federal income tax.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.