municipal note

municipal note
A note for money borrowed by a municipal corporation, usually payable and issued to a single investor and maturing at a date earlier than a bond issue. 43 Am J1st Pub Sec § 11.

Ballentine's law dictionary. . 1998.

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  • Municipal Note — Debt issued by state and local governments to finance capital expenditures such as construction projects. Municipal notes are appealing to investors because they mature in one year or less, offer fixed income and are often exempt from income tax… …   Investment dictionary

  • municipal note — noun a municipal debt instrument with a maturity of less than 2 years • Hypernyms: ↑note, ↑promissory note, ↑note of hand …   Useful english dictionary

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