municipal bond

Noun
  1. A bond issued by a state or local government (synset 113359672)
    is a type of: bond, bond certificate - a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal
    subtypes: utility bond, utility revenue bond - a bond issued to finance the construction of public utility services

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