Which of the following municipal securities carries the full faith and credit of the US government for payment of interest and principal if the issuer’s funds are insufficient?
Answer(s): D
new housing authority bonds issued by a public housing authority. Only housing bonds are backed by the US government if municipalities are unable to meet the obligations for payment.
Bubba buys a municipal bond at a discount and holds it to maturity. Which of the following is true?
Answer(s): C
interest is tax exempt, but the capital gain is taxable. This happens because Bubba purchased the bond in the secondary market with a different price than the original issue face amount.
Prospective bidders for a municipal bond being issued should consult what document for relevant procedures?
Answer(s): B
the official notice of sale. All bid requirements are found in the official notice of sale.
Which of the following does not appear in the official notice of sale?
an offering scale of serial maturates. The scale is set by the successful bidder.
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