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In its narrower and more common sense, pertaining to a local governmental unit, commonly a city or town. In its broader sense, pertaining to the public or governmental affairs of a state, nation, or of a people. Relating to a state or nation, particularly when considered as an entity independent of other states or nations.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


adj. referring to an incorporated or chartered city or town.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

LAW, MUNICIPAL. Municipal law is defined by Mr. Justice Blackstone to be "a rule of civil conduct prescribed by the supreme power in a state, commanding what is right and prohibiting what is wrong." This definition has been criticised, and has been perhaps, justly considered imperfect. The latter part has been thought superabundant to the first; see Mr. Christian's note; and the first too general and indefinite, and too limited in its signification to convey a just idea of the subject. See Law, civil. Mr. Chitty defines municipal law to be "a rule of civil conduct, prescribed by the supreme power in a state, commanding what shall be done or what shall not be done." 1 Bl. Com. 44, note 6, Chitty's edit.
     2. Municipal law, among the Romans, was a law made to govern a particular city or province; this term is derived from the Latin municipium, which among them signified a city which was governed by its own laws, and which had its own magistrates.

MUNICIPAL. Strictly, this word applies only to what belongs to a city. Among the Romans, cities were called municipia; these cities voluntarily joined the Roman republic in relation to their sovereignty only, retaining, their laws, their liberties, and their magistrates, who were thence called municipal magistrates. With us this word has a more extensive meaning; for example, we call municipal law, not the law of a city only, but the law of the state. 1 Bl. Com. Municipal is used in contradistinction to international; thus we say an offence against the law of nations is an international offence, but one committed against a particular state or separate community, is a municipal offence.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
The group manages more than $80 billion in taxable and tax-exempt fixed income portfolios including Baird Ultra Short Bond Fund, Baird Short-Term Bond Fund, Baird Intermediate Bond Fund, Baird Aggregate Bond Fund, Baird Core Plus Bond Fund, Baird Short-Term Municipal Bond Fund, Baird Core Intermediate Municipal Bond Fund, and Baird Quality Intermediate Municipal Bond Fund.
Although the full tax exemption for municipal bond interest was successfully retained, other changes noteworthy to issuers of municipal bonds include:
In addition to lagging municipal bond prices, there is more to this story in our opinion.
President Barack Obama sought to limit the exemption to 28%, and Trump had expressed openness to a 10% limit early in his campaign, but in a mid-December meeting with a group mayors Trump reportedly said he would retain the tax exemption on the interest that municipal bonds pay investors.
In the United States and other mature economies, municipal bonds, also known as "munis," account for a major portion of all bond issuances in their capital markets.
Diversifying your municipal bond holdings helps you dilute the potential risk of a default from an unpredictable local event.
The Tower Amendment -- enacted in 1975 to amend the Securities Exchange Act of 1934 -- disables the SEC from mandating that issuers of municipal bonds file securities documents before selling the bonds.
The National Association of Clean Water Agencies (NACWA) and the Association of the Metropolitan Water Agencies (AMWA) released a report in July examining the vital role of tax-exempt municipal bonds in funding drinking water and wastewater infrastructure.
During the go-go years, municipal bond insurers simultaneously issued insurance on collateralized debt and other securitized rubbish.
"The absence of a clear pattern leads us to believe that municipal bond defaults may be more a function of idiosyncratic factors associated with individual sectors or issues than the result of broad macroeconomic developments," the report noted.
Municipal bond issuers can borrow at today's low interest rates.
SUZE ORMAN HAS MADE a name for herself as America's financial adviser, and the lesbian money guru takes her own advice, particularly on tax-free municipal bonds.

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