municipal security


Short-term issues (sometimes called "notes") which generally mature in under a year; and municipal bonds which mature in more than a year. Short-term municipal securities are used by municipalities to pay for taxes, recover from budget deficits, state and federal aid payments, or to provide necessary funding for local public projects until longer term financing is obtained. Municipal bonds are used to finance long-term projects for the municipality.
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tax-exempt money market fund Series 6