Video: How Do Governments Borrow Money?
A video explainer on the mechanics and players that make the $3.7 trillion municipal bond market work.
This is part of an ongoing series called Finance 101 that goes back to the basics to help public officials.
Local and state governments rely on the $3.7 trillion municipal market to borrow money affordably and pay for big projects like roads, bridges and new schools.
The interest rate they pay to borrow is tied to their credit worthiness. But how exactly does this whole process work and who are the players that help governments borrow money?