No, no I am not. WTF is with you people? Have you never heard of the friggin’ MTA or a sewer district? I thought we all dropped pretending to be numb after the fifth grade.
You’re talking about muni bonds backed by promised streams of revenue. There’s not new revenue coming in from building airports or hospitals without having the federal government taking a role in our society that is neither constitutional nor needed.
Those are still government bonds, only sweetened by a heightened/elevated guarantee of payment that is already implied in US bonds to a level that local governments can’t match. (That is why more local bonds usually pay at a higher rate as well.)