municipal

adj

1. (not-comparable)Of or pertaining to a municipality (a city or a corporation having the right of administering local government).

   “More than 100 provincial and municipal firefighters were brought in, with helicopters and aircraft used to drop water and fire retardant, while bulldozers were digging firebreaks.”

2. (not-comparable)Of or pertaining to the internal affairs of a nation.

noun

1. A financial instrument issued by a municipality.

   ““This might be the last great opportunity for preretirement baby boomers to buy municipals at such attractive levels,” said Janet Fiorenza, head of municipal fixed income at Lehman Brothers Asset Management.”