MUNICIPAL IMPROVEMENT CERTIFICATE
\mjuːnˈɪsɪpə͡l ɪmpɹˈuːvmənt sətˈɪfɪkət], \mjuːnˈɪsɪpəl ɪmpɹˈuːvmənt sətˈɪfɪkət], \m_j_uː_n_ˈɪ_s_ɪ_p_əl ɪ_m_p_ɹ_ˈuː_v_m_ə_n_t s_ə_t_ˈɪ_f_ɪ_k_ə_t]\
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To fund projects, local governments used this specific type of certificate . The loans issued with this certificate are interest and tax free. This helps minimize the cost to the local governments using them. The amount that the government has to pay for certain publicly sanctioned properties is lower because these certificates are funded by special assessment taxes.
By Henry Campbell Black
