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This article is from the What Every
Investor Should Know.
Municipal Bonds
Rating agencies also evaluate the bonds issued by state and local
governments and their agencies, taking into consideration such factors
as the tax base, population statistics, total debt outstanding, and
the area's general economic climate. There are different types of
municipal bonds. Some are general obligation bonds that are secured by
the full faith and credit of a state or local government, and are
backed by its taxing power. Others are revenue bonds that are issued
to finance specified public works, such as bridges or tunnels, and are
directly backed by the income from the specific project.
Prices of most municipal bonds are not usually quoted in daily
newspapers. The investor interested in a particular bond issue should
consult bond dealers for their current prices. Your public library may
also have copies of a municipal bond guide or a "Blue List."
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