Purpose of Municipal Bonds
Municipal bonds are securities that are issued for the purpose of financing the infrastructure needs of the issuing municipality. These needs vary greatly but can include schools, streets and highways, bridges, hospitals, public housing, sewer and water systems, power utilities, and various public projects.
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Famous quotes containing the words purpose of, purpose, municipal and/or bonds:
“Culture is the tacit agreement to let the means of subsistence disappear behind the purpose of existence. Civilization is the subordination of the latter to the former.”
—Karl Kraus (1874–1936)
“Rule of criticism: only attend to the shape, and the purpose will manifest itself.”
—Mason Cooley (b. 1927)
“No sane local official who has hung up an empty stocking over the municipal fireplace, is going to shoot Santa Claus just before a hard Christmas.”
—Alfred E. Smith (1873–1944)
“For, truly speaking, whoever provokes me to a good act or thought has given me a pledge of his fidelity to virtue,—he has come under the bonds to adhere to that cause to which we are jointly attached.”
—Ralph Waldo Emerson (1803–1882)