A written statement by recognized counsel affirming the legal validity of a municipal bond; it must either be printed on or attached to the bond.
A statement, usually written by a specialized law firm, required for a new municipal bond issue stating that the issue is legally acceptable.
(1) The opinion of an official authorized to render it (e.g., attorney general). (2) In the case of governmental bonds, the opinion of a specialized bond attorney as to the legality of a bond issue.
the legal document stating the reasons for a judicial decision; "opinions are usually written by a single judge"
A written opinion from bond counsel stating that a bond issue has been duly authorized and issued.
The opinion of a qualified law firm stating that the municipal bonds being offered for sale are validly issued. The opinion often includes a statement indicating the tax-exempt status of the income.
The written opinion of bond counsel which attests to the fact that the municipal issue was legally authorized and issued and to the tax status of the interest. See: Qualified Legal Opinion.
An opinion concerning the validity of a securities issue with respect to statutory authority, constitutionality, procedural conformity and usually the exemption of interest from federal income taxes. The legal opinion is usually rendered by a law firm recognized as specializing in public borrowings, often referred to as "bond counsel."
Written opinion by an attorney who attests to a municipal bond issue's legality--that is, it is authorized and the interest's tax status is correct. See: Municipal Bond; Qualified Legal Opinion
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A written opinion from bond counsel that an issue of bonds was duly authorized and issued. The opinion usually includes the statement, "interest received thereon is exempt from federal taxes and, in certain circumstances, from state and local taxes."