This book is an introduction, for nonspecialist attorneys, to the often intricate process of financing local capital projects through the sale of municipal bonds. It considers the major institutional and individual players in the bond issuance process as well as those sometimes complex facets of the law that establish the ground rules for--and some limitations on--municipal debt. The book is divided into seven chapters, each focused on a discrete aspect of state and local borrowing:

• Borrowing instruments
• Key players in the issuance of municipal bonds
• Rating agencies
• State law limitations on local government borrowing
• Regulation of municipal securities
• Federal taxation of municipal debt
• Issues and procedures in municipal finance litigation