Municipal Bonds

Municipal bonds account for about 2% of the Canadian bond market. Their ratings vary, because they are not all guaranteed by the province in which they are located. In addition, their credit quality is also dependent on their ability to generate tax revenues, among other factors.† Municipal bonds issuers include cities, counties, school districts in some cases and redevelopment agencies.

Municipal bonds are available with terms to maturity ranging between a few months and up to 30 years. The minimum investment amount is $5,000, and the maximum is $50,000. Interest is paid semi-annually or at maturity.

Like other government bonds, municipal bonds may be sold at market value prior to maturity, and a large secondary market exists for buying and selling such bonds.†

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