Municipal Bonds
Recently, Rs. 200-crore worth Lucknow Municipal Corporation (LMC) bonds have been listed on the Bombay Stock Exchange (BSE).
- A municipal bond is a debt security issued by a state, municipality or county to finance its capital expenditures, including the construction of highways, bridges or schools.
- Through muni bonds, a municipal corporation raises money from individuals or institutions and promises to pay a specified amount of interest and returns the principal amount on a specific maturity date.
- These are mostly exempt from federal taxes and from most state and local taxes, making them especially attractive to people in high income tax brackets.
Impact
- Transparency: ....
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