{"id":11927,"date":"2018-01-07T04:58:58","date_gmt":"2018-01-07T04:58:58","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=11927"},"modified":"2018-01-07T05:15:54","modified_gmt":"2018-01-07T05:15:54","slug":"municipal-bond-a-tax-exempt-negotiable-bond-which-serves-as-an-evidence-of-indebtedness-issued-as-one-of-a-series-of-instruments-issued-at-the-same-time-by-a-nonfederal-government-or-governmental-u","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=11927","title":{"rendered":"Municipal Bond – a tax-exempt, negotiable bond which serves as an evidence of indebtedness issued as one of a series of instruments issued at the same time by a nonfederal government or governmental unit in order to finance state or local improvements"},"content":{"rendered":"

municipal bond<\/span>:<\/span>
\n<\/strong>(1858)<\/span><\/p>\n

1. A bond issued by a nonfederal government or governmental unit, such as a state bond to finance local improvements.\u00a0 *\u00a0 The interest received from a municipal bond may be exempt from federal, state, and local taxes. <\/strong>\u2014 Often shortened (in plural) to municipals<\/strong><\/em><\/span>; munies<\/em><\/strong><\/span>. \u2014 aka municipal security<\/strong><\/em><\/span>.\u00a0 Cf. ex legal municipal bond. [1]<\/span><\/p>\n

1. A public security; a bond issued by a municipality.\u00a0 An evidence of indebtedness issued as one of a series of instruments issued at the same time by a city, town, or other corporate public body, negotiable in form, payable at a designated future time, and intended for sale in the market with the object of raising money for a municipal improvement the expense of which is beyond the immediate recourses of reasonable taxation, and payment of which of necessity or reason should be distributed over a period of years.\u00a0 43 Am J1st Pub Sec \u00a7 6<\/span>.<\/strong> [2]<\/span><\/p>\n

1. A bond issued by a\u00a0 state or municipality to raise money for municipal expenses from a source other than taxation.<\/span><\/strong>
\n\u00a0\u00a0\u00a0\u00a0 See municipal securities<\/em>.\u00a0\u00a0\u00a0 Compare municipal warrant<\/em>. [3]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is compiled in accordance with Fair Use<\/a><\/span><\/strong>.<\/strong><\/p>\n

[1]: Black\u2019s Law Dictionary\u00a0Deluxe Tenth Edition\u00a0by Henry Campbell Black & Editor in Chief Bryan A. Garner<\/a>. ISBN: 978-0-314-62130-6<\/span><\/strong><\/p>\n

[2]: Ballantine\u2019s Law Dictionary\u00a0<\/a><\/span><\/strong>with Pronunciations
\n<\/span><\/em>Third Edition<\/span><\/strong><\/a>\u00a0by James A. Ballantine\u00a0<\/span><\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/span><\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/span><\/strong><\/p>\n

[3]: Ballantine’s Law Dictionary <\/a><\/span><\/strong>Legal Assistant Edition<\/span><\/a><\/em>
\nby Jack Ballantine\u00a0<\/span><\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/span><\/em>Doctored<\/span><\/a><\/strong>\u00a0<\/span><\/em>by\u00a0Jack G. Handler,\u00a0J.D.<\/a>\u00a0\u00a9 1994 Delmar by Thomson Learning.\u00a0 ISBN 0-8273-4874-6.<\/span><\/strong><\/p>\n

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