arbitrage bond

arbitrage bond

A municipal bond, the proceeds of which are invested in bonds paying a higher yield than that paid by the municipality on its own bonds.

? Under the Internal Revenue Code, the tax-free aspect of municipal-bond income may be lost if the bonds are classified as arbitrage bonds. See ARBITRAGE. [Cases: Internal Revenue 3132.10. C.J.S. Internal Revenue ¡ì¡ì 94, 98.]


What is the legal equivalent of the term arbitrage bond in Chinese?
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