Reference > The New Dictionary of Cultural Literacy > 18. Business and Economics
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  The New Dictionary of Cultural Literacy, Third Edition.  2002.
 
municipal bonds
 
 
Bonds issued by nonprofit bodies such as cities, public hospitals, and school boards. They bear relatively low interest rates, but accrued interest is exempt from federal income tax.  1
 
 
The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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