| 1. | Municipal securities are issued by state and local governments and by special districts . interest on municipal securities is exempt from federal taxation . municipal securities come in a variety of types , with different redemption features , credit risk , and liquidity 市政债券在西方发达国家发展已经比较成熟,我国发展市政债券,具有国际经验可以借鉴,分析市政债券在我国的可行性,研究市政债券在我国的可行性和风险,具有重要的现实意义。 |