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Callability: Just like corporate bonds, muni bonds can be called by the issuer before maturity. In general, the same rules apply. The call price will be at a premium to compensate for the vanishing tax-free interest. The bonds have to be issued for a certain time period (usually 5 years) before they can be called. That sort of thing.
In theory, a revenue bond could have a put feature, but we've never heard of one actually being issued.
Lifecycle: Muni Bond Inception Walk-Through
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