Municipal securities, also referred to as municipal bonds, are issued by cities, counties, and other local government entities. There are various alternative terms used to describe municipal securities, including "muni bonds," "local government bonds," "municipal debt securities," or simply "munis." These bonds allow governments to raise capital to fund various projects, such as schools, hospitals, water treatment plants, and roads. Municipal bonds are known for their tax-exempt status, making them an attractive investment for individuals and institutions seeking to generate tax-free income. Regardless of what they are called, these bonds are a popular investment option for those seeking steady returns and stability.