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:
“Whoever considers morality the main objective of human existence, seems to me like a person who defines the purpose of a clock as not going wrong. The first objective for a clock, is, however, that it does run; not going wrong is an additional regulative function. If not a watch’s greatest accomplishment were not going wrong, unwound watches might be the best.”
—Franz Grillparzer (1791–1872)
“Rule of religion: purpose breathes even in dirt and stones.”
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“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)
“My Christian friends, in bonds of love, whose hearts in sweetest union join,
Your friendship’s like a drawing band, yet we must take the parting hand.
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—John Blain (18th century)