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Finance 431: Property-Liability Insurance - page 7 / 35

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Municipal Bonds

A bond issued by states, cities, local governments, or public agencies.

Bonds fund public projects, and they fund private projects as long as they serve public needs.

Interest income from funding of public projects is tax exempt from federal taxes, as well as state and local taxes for most projects in most states.

Examples of projects:

Schools

Highways and roads

Utilities

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