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:
“To found a great empire for the sole purpose of raising up a people of customers, may at first sight appear a project fit only for a nation of shopkeepers. It is, however, a project altogether unfit for a nation of shopkeepers, but extremely fit for a nation that is governed by shopkeepers.”
—Adam Smith (1723–1790)
“Some of my friends spoke as if I was coming to the woods on purpose to freeze myself.”
—Henry David Thoreau (1817–1862)
“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)