municipal

Etymology

Borrowed from French municipal, from Latin mūnicipālis (“of or belonging to a citizen or a free town”), from mūniceps (“a citizen, an inhabitant of a free town”), from mūnus (“duty”) + capiō (“to take”).

adj

1. Of or pertaining to a municipality (a city or a corporation having the right of administering local government).
2. Of or pertaining to the internal affairs of a nation.

noun

1. (finance) A financial instrument issued by a municipality.
   “This might be the last great opportunity for preretirement baby boomers to buy municipals at such attractive levels,” said Janet Fiorenza, head of municipal fixed income at Lehman Brothers Asset Management. April 21, 2008, Julie Connelly, “Muni Bonds, Safe With High Yields”, in New York Times