Chapter 7 preview
Chapter 7: Municipal Debt
Chapter 7 covers municipal securities: GO bonds backed by the taxing power of the issuer, revenue bonds backed by project receipts, and short-term notes (BANs, RANs, TANs). Federal income tax exemption is the defining feature of munis. Use the Tax-Equivalent Yield formula to compare munis to taxable bonds. MSRB regulates dealers; know the official statement as the disclosure document. Private activity bonds may be subject to the AMT.
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Municipal Debt
Chapter 7 covers municipal securities: GO bonds backed by the taxing power of the issuer, revenue bonds backed by project receipts, and short-term notes (BANs, RANs, TANs). Federal income tax exemption is the defining feature of munis. Use the Tax-Equivalent Yield formula to compare munis to taxable bonds. MSRB regulates dealers; know the official statement as the disclosure document. Private activity bonds may be subject to the AMT.
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Key concepts
- Types of Municipal Bonds
- Other Municipal Securities
- Municipal Fund Securities
- Tax Considerations
- Quotations
- Types of Municipal Bonds
- Other Municipal Securities
- Municipal Fund Securities
- Tax Considerations
- Quotations
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