Municipal security definition

Municipal security means a secu- rity that is a direct obligation of or issued by, or an obligation guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate in- strumentality of one or more States or political subdivisions thereof.
Municipal security means asecurity which is a direct obligation of, or an obligation guaranteed as to principal or interest by, a State or any political subdivision, or any agency or instrumentality of a State or any political subdivision, or any municipal corporate instrumentality of one or more States or any security which is an industrial development bond (as defined in 26 U.S.C. 103(c)(2)) the interest on which is excludable from gross income under 26 U.S.C. 103(a)(1) if, by reason of the application of paragraph (4) or (6) of 26 U.S.C. 103(c) (determined as if paragraphs (4)(A), (5) and (7) were not included in 26 U.S.C. 103(c), paragraph (1) of 26 U.S.C. 103(c) does not apply to such security. See 15.U.S.C. 78c(a)(29).
Municipal security means a security that when issued was not exempt from this act or former 1943 PA 202 by the provisions of this act or by former 1943 PA 202 or by the provisions of the law authorizing its issuance and that is payable from or secured by any of the following:

Examples of Municipal security in a sentence

  • If the resolution has determined that the asset or right is necessary for providing a minimum essential, the lender to whom the Municipal security is given, may not, in the event of a default by the Municipality, deal with the asset or right in the manner that would preclude or impede the continuation of the minimum essential municipal service.

  • Municipal security means a security that is a direct obligation of or issued by, or an obligation guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States or political subdivisions thereof.

  • Municipal security" means a bond or note or evidence of debt issued by a governmental unit and payable from taxes or from rates, charges or assessments, but does not include any bond or note or evidence of debt issued under chapter 213 or Title 10, chapter 110, subchapter IV.[PL 1987, c.

  • A credit union may invest in a fixed or variable rate collateralized mortgage obligation/real estate mortgage investment conduit.17.14(5) Municipal security.

  • Municipal security" means an evidence of indebtedness issued by a political subdivision, but does not include an evidence of indebtedness issued pursuant to chapter 40-57 other than an evidence of indebtedness that qualifies as an "exempt facility bond" as defined under 26 U.S.C. 142(a) (4), (5), or (6) [Pub.


More Definitions of Municipal security

Municipal security means direct obligation of, or obligation guaranteed as to principal or interest by, a state (or any of its political subdivisions, or any municipal corporate instrumentality of one or more states), or the District of Columbia, Puerto Rico, the Virgin Islands, or any other possession of the United States.
Municipal security means an evidence of indebtedness issued by a political subdivision, including a clean renewable energy bond issued under 26 U.S.C. 54 [Pub. L. 109-58; 119 Stat. 991], and a revenue agreement entered into by a contracting party as those terms are used in chapter 40-57, but does not generally include an evidence of indebtedness issued pursuant to chapter 40-57 other than an evidence of indebtedness that qualifies as a qualified small issue bond as defined under 26 U.S.C. 144(a) [Pub. L. 99-514; 100 Stat. 2606], as amended, and regulations promulgated and officially proposed to be promulgated thereunder, or as an "exempt facility bond" as defined under 26 U.S.C. 142(a)(4), (5), or (6) [Pub. L. 99-514; 100 Stat. 2606], as amended, and regulations promulgated and officially proposed to be promulgated thereunder, issued to provide one of the following:
Municipal security means an evidence of indebtedness issued by an irrigation district.
Municipal security means an evidence of indebtedness issued by a political
Municipal security means asecurity which is a direct obligation of, or an obligation guaranteed as toprincipal or interest by, a State or any political subdivision, or any agency or instrumentality of a State or anypolitical subdivision, or any municipalcorporate instrumentality of one or more States or any security which is anindustrial development bond (asdefined in section 103(c)(2) of the Internal Revenue Code of 1954) the interest on which is excludable fromgross income under section 103(a)(1) of such Code if, by reason of theapplication of paragraph (4) or (6) of section 103(c) of such Code (determined as if paragraphs (4)(A), (5) and (7) were not included in such section 103(c),paragraph (1) of such section 103(c) does not apply to such security.
Municipal security means a security that when issued was not exempt from this act or former 1943 PA 202 . . . and that is payable from or secured by any of the following:
Municipal security. ’ shall mean a security which is a direct obligation of, or obligation guaranteed as to principal or interest by a State or any political subdivision thereof, or