[Verse 1] When cities need new bridges or schools demand repair Local governments issue bonds floating through the air States and counties borrow money from investors like you Promising to pay it back with interest too These municipal bonds fund the public good Swimming pools and hospitals in every neighborhood [Chorus] Munis pay you tax-free, keep more cash in hand Federal exemption across this mighty land General obligation or revenue stream Tax-advantaged income living the dream Munis, munis, local debt so sweet Making public projects financially complete [Verse 2] Two flavors exist in this municipal feast General obligation backed by taxing beasts Full faith and credit of the issuing state Property taxes guarantee you'll never wait Revenue bonds depend on project cash Toll roads and airports paying bond holder stash [Chorus] Munis pay you tax-free, keep more cash in hand Federal exemption across this mighty land General obligation or revenue stream Tax-advantaged income living the dream Munis, munis, local debt so sweet Making public projects financially complete [Bridge] Higher tax brackets love these bonds the most Wealthy investors maximize every coast Triple tax-free when you buy from home State and local taxes leave you alone Credit ratings matter, research before you leap Default risk exists but historically cheap [Verse 3] Taxable equivalent yield shows the true prize Compare to corporate bonds and analyze If you're in thirty percent bracket, here's the math A five percent muni equals seven and a half Pre-tax yield on taxable corporate debt Municipal advantage you'll never forget [Chorus] Munis pay you tax-free, keep more cash in hand Federal exemption across this mighty land General obligation or revenue stream Tax-advantaged income living the dream Munis, munis, local debt so sweet Making public projects financially complete [Outro] Infrastructure thrives when capital flows From private investors to public shows Municipal bonds bridge the funding gap Tax advantages make investors clap
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