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a bond issued by a state, county, city, or town, or by a state authority or agency to finance projects.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
Examples from the Web for municipal bond
Bank of America pays $137 million to settle government claims it rigged the municipal-bond market.
Which Bank Is the Worst?
October 25, 2011
The municipal-bond market would have also been thrown into turmoil.
Was the AIG Bailout a Conspiracy?
Edward Jay Epstein
April 2, 2009