As Trump Eyes Infrastructure, Local Leaders Say Save ‘Muni Bonds’

Structures built with municipal bonds stand out in this city. There is the Columbia Metropolitan Convention Center, and new parking garages for a revitalized restaurant and apartment district. Sleek, futuristic water towers loom on the edge of town and new modern pumps hum at the water plant where the oldest structures date to 1906. Nationwide, the “muni bond” market has funded $1.65 trillion worth of projects for cities and other governments over the past decade. The borrowed money has paid for schools, roads, water and sewer systems, airports, bridges and other vital infrastructure.