Municipal Corporation. An incorporated political subdivision of a state that is composed of the citizens of a designated geographic area and which performs certain state functions on a local level and possesses such powers as are conferred upon it by the state. A municipal corporation is a city, town, village, or borough that has governmental powers.

Legal definition for MUNICIPAL CORPORATION: A public corporation, created by government for political purposes, and having subordinate and local powers of legislation; e. p., a county, town, city, etc. 2 Kent, Comm. 2

Define municipal corporation. municipal corporation synonyms, municipal corporation pronunciation, municipal corporation translation, English dictionary definition of municipal corporation. n. a city, town, or other district that operates under a corporate charter granted by the state; a municipality.

Municipal corporation definition, a city, town, village, etc., that operates under a corporate charter granted by the state. See more.

Municipal corporation A municipal corporation is the legal term for a local governing body, including cities, counties, towns, townships, charter townships, villages, and boroughs. Municipal incorporation occurs when such municipalities become self-governing entities under the laws of the state or province in which they are located.

28/04/2020 · Municipal Corporations are local level governments in India. It’s also called as Mahanagar Palika, Nagar Palika, Nagar Nigam, City Corporation, etc. A city is administered by a Municipal Corporation if the population of that city exceeds one billion. Municipal Corporations are largely dependent on the property tax collected for their revenue.

It is often called a municipal corporation A governmental entity; also called a public corporation., to distinguish it from the publicly held corporation, which is sometimes also referred to as a “public” corporation, although it is in fact private (i.e., it is not governmental). Major cities and counties, and many towns, villages, and special governmental units, such as sewer, …

04/01/2022 · Obligation Bond: A municipal bond used to secure a mortgage on property or other physical assets that can be liquidated. The face value …