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.
Read more about this topic: Municipal Bond
Famous quotes containing the words purpose of, purpose, municipal and/or bonds:
“Most Americans are born drunk, and really require a little wine or beer to sober them. They have a sort of permanent intoxication from within, a sort of invisible champagne.... Americans do not need to drink to inspire them to do anything, though they do sometimes, I think, need a little for the deeper and more delicate purpose of teaching them how to do nothing.”
—Gilbert Keith Chesterton (1874–1936)
“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)
“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)
“It’s rather grisly, isnt it, how soon a living man becomes nothing more than a collection of stocks and bonds and debts and real estate?”
—John Dos Passos (1896–1970)