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Municipal Bonds

It's no secret that state and local governments rarely operate with a surplus. Even when they operate with a balanced cash flow statement (they take in as much as they spend), governments need to fund major projects like building schools, maintaining roadways, and providing other valuable services to their constituents. To achieve these needs, they float bonds and raise capital from you and me and through a lot of pension funds across the country.

The major draw for municipal bonds (known as munis) is the income that they generate is tax free. The extent to which they are tax free depends on which muni you buy.


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