Muni

Muni is a term that can refer to several distinct concepts. In North American transit, it is the informal name for the San Francisco Municipal Transportation Agency and its street-level network of buses, light rail, streetcars, and cable cars. In finance, muni is shorthand for municipal bonds. In Indian religious and philosophical contexts, muni denotes a sage or ascetic.

The San Francisco Muni operates buses, the Muni Metro light rail system, and the city’s historic cable-car fleet, serving the urban core and surrounding neighborhoods. The San Francisco Municipal Transportation Agency (SFMTA) administers Muni, along with parking and traffic enforcement, and was established in 1999 to consolidate municipal transportation functions. Funding comes from farebox revenue, local taxes, and state and federal grants.

Municipal bonds, or munis, are debt securities issued by states, cities, counties, or other government entities to fund public projects such as schools, roads, and water systems. Most munis offer exempt interest from federal income tax, and some also exempt from state and local taxes for residents of the issuing jurisdiction. They vary in maturity, yield, and credit quality and carry risks related to credit strength and interest-rate movements. Investors often use munis for tax-advantaged portfolios, though suitability depends on individual tax status and risk tolerance.

In Indian religious literature, a muni is a sage or renunciant who pursues spiritual knowledge and meditation. Munis are described as teachers or authors of sacred texts in Hindu and Jain traditions, and the term is used broadly as an honorific for wise ascetics.