municipal

Definition

Pertaining to local city government, or a bond issued by said government that lets you bet on whether a town can pay its debts. Municipal bonds are beloved by tax-averse investors who trust city councils more than they probably should. It's the financial equivalent of believing your local DMV will process your paperwork efficiently.

Example Usage

The investor bought municipal bonds to avoid federal taxes while funding the city's new parking garage.

Source: Financial and governmental terminology

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