MUNICIPAL BOND Definition

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MUNICIPAL BOND is the general category of securities issued by public entities. Interest income received by investors is usually exempt from federal income taxes.

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OPERATION AGREEMENT, within an LLC, is similar to the constitution of a corporation. It is drafted primarily because an LLC only has a basic Articles of Organization that is very general in nature. An Operation Agreement has much more specificity as to the formation and operation of the LLC organization.

P&A, dependent upon usage, can be: Parts & Accessories, Pay & Allowances, Personnel & Administration, or Price & Availability.

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