Now we are looking on the crossword clue: Tax-exempt bond, for short.
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Possible Answers: MUNI.
Random information on the term “MUNI”:
The Key System (or Key Route) was a privately owned company that provided mass transit in the cities of Oakland, Berkeley, Alameda, Emeryville, Piedmont, San Leandro, Richmond, Albany and El Cerrito in the eastern San Francisco Bay Area from 1903 until 1960, when it was sold to a newly formed public agency, AC Transit.
Taken from Wikipedia