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10 High-Yielding Muni Bonds
These municipal bonds have unwieldy names, but they all were available to the public recently, offer excellent after-tax yields for in-state residents and are rated AA or better.
Arizona
Glendale Arizona Western Loop Third, Series C
CUSIP # 378343BB2
After-Tax Yield*: 8.7 percent
Maturity Date: July 1, 2017
Comment: These bonds, issued last October, were sold to help build baseball spring training facilities.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Sources: Investinginbonds.com, Electronic Municipal Market Access, Bloomberg
California
Antelope Valley California Community College District Election 2004, Series B
CUSIP #: 03667PCB6
After-Tax Yield*: 8.5 percent
Maturity date: Aug. 1, 2017
Comment: This bond was issued to help relieve overcrowding and upgrade job training and academic programs in the Antelope Valley Community College district near Los Angeles.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Florida
Miami Florida Rent Revenue, Series 1988
CUSIP #: 593464AA8
After-Tax Yield*: 10.4 percent
Maturity Date: July 1, 2019
Comment: These bonds, issued two decades ago, are financed by taxes collected on hotels, mobile homes and nearly any other dwelling where someone pays rent.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Illinois
Chicago Illinois Transit Authority Sales and Taxable-Pension Funding Series A
CUSIP #: 167725AC4
After-Tax Yield*: 8.6 percent
Maturity Date: Dec. 1, 2040
Comment: The proceeds from these bonds, issued last year, will go into the pension fund of bus drivers and other Chicago area transit workers. They are backed by sales taxes.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Massachusetts
Massachusetts Stat Port Authority Revenue
CUSIP #: 575895CJ4
After-Tax Yield*: 7.9 percent
Maturity Date: July 1, 2011
Comment: This agency routinely sells bonds backed up by money the state gets from airports, bridges and ports.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
New Jersey
New Jersey Economic Development Authority State Pension Funding Revenue, Series1997B
CUSIP #: 645913BB9
After-Tax Yield*: 9.1 percent
Maturity Date: Feb. 15, 2023
Comment: These are zero-coupon bonds, so the interest is accrued at the end when the bond matures.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
New York
New York State Environmental Facilities Corp. State Clean Water Revolving Funds—New York City Muni Water-A
CUSIP: 64986AF55
After-Tax Yield*: 7.7 percent
Maturity Date: June 15, 2038
Comment: A bond issued for water quality protection projects in New York City.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Ohio
Development Assistance Bonds, Series A (Logistics and Distribution Program)
CUSIP # 67755WAX3
After-Tax Yield*: 8.1 percent
Maturity Date: Oct. 1, 2026
Comment: Ohio issued these bonds recently to help build roads and other infrastructure projects.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Pennsylvania
Aqua Pennsylvania bonds, offered through the Pennsylvania Economic Development Financing Authority
Price: $99.90
After-Tax Yield*: 7.7 percent
Maturity Date: Oct. 1, 2039
Comment: These bonds are funding infrastructure improvements to a water utility in Pennsylvania that serves 1.4 million people in 30 counties.
* assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
Texas
San Antonio Texas Electric and Gas Revenue Prerefunded, Series 2000
CUSIP #: 796253NS7
After-Tax Yield*: 8.7 percent
Maturity Date: Feb. 1, 2011
Comment: The bonds are backed by the utility payments of residents in and around San Antonio.
* Assuming in-state resident in the 35% federal tax bracket. Yields as of July 13.
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