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[Readings]

Municipal Bonds

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From a class-action lawsuit filed in February against the city of Ferguson, Missouri, for excessively fining and imprisoning residents for minor infractions. In March, the Department of Justice concluded that Ferguson relies on the “enforcement of code provisions” to generate a significant portion of revenue and that the police disproportionately target black residents. African Americans make up 67 percent of the population of Ferguson but receive 90 percent of tickets and face 93 percent of arrests.

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