Company: NMI
Filing Date: 2025-07-07
Form Type: N-CSRS
Source: 0001193125-25-155990
Chunk: 32

Company: NUVEEN MUNICIPAL INCOME FUND INC
Filing Date: 2025-07-07
Form: N-CSRS
Chunk 32
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-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and
(b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a Fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder
of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside
investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond
on a leveraged basis.

Leverage:Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the
investment capital.

Net Asset Value (NAV) Per Share:A fund’s Net Assets is equal to its total assets (securities, cash, accrued earnings and
receivables) less its total liabilities. NAV per share is equal to the fund’s Net Assets divided by its number of shares outstanding.

Pre-Refunded Bond/Pre-Refunding:Pre-Refunded Bond/Pre-Refunding, also known as advanced
refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest
from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond’s credit rating and thus its value.

Tax Obligation/General Bonds:Bonds backed by the general revenues of an issuer, including taxes, where the issuer has the ability to increase taxes by an
unlimited amount to pay the bonds back.

Tax Obligation/Limited Bonds: Bonds backed by the general revenues of an issuer, including taxes, where the issuer
doesn’t have the ability to increase taxes by an unlimited amount to pay the bonds back.

Total Investment Exposure:Total investment exposure is a
fund’s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund’s use of preferred stock and borrowings and investments in the residual interest certificates (also
called inverse floating rate securities) in tender option bond (TOB