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:
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)
“If God bestowed immortality on every man then when he made him, and he made many to whom he never purposed to give his saving grace, what did his Lordship think that God gave any man immortality with purpose only to make him capable of immortal torments? It is a hard saying, and I think cannot piously be believed. I am sure it can never be proved by the canonical Scripture.”
—Thomas Hobbes (1579–1688)
“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)
“We black women must forgive black men for not protecting us against slavery, racism, white men, our confusion, their doubts. And black men must forgive black women for our own sometimes dubious choices, divided loyalties, and lack of belief in their possibilities. Only when our sons and our daughters know that forgiveness is real, existent, and that those who love them practice it, can they form bonds as men and women that really can save and change our community.”
—Marita Golden, educator, author. Saving Our Sons, p. 188, Doubleday (1995)