Municipal improvement certificate

Definition:

A certificate used to finance local government projects and services which is financed by a special tax assessment and provides tax-free interest .

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Central Counterparty Clearing House

An organization in European countries that helps facilitate trading done in European derivatives and equities market.

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