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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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
But following the financial meltdown, companies that provided municipal bond insurance mostly lost their stellar credit ratings.
Tax-weary investors should look at municipal bond funds.
Falling state and city tax revenues point to a coming crisis in the municipal bond market, experts say.
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