First Trust Tax Exempt Municipal Income, Series 283 is a unit investment trust designed to provide federally tax-exempt income while seeking capital preservation through a fixed portfolio of investment‑grade municipal bonds. The trust holds a concentrated basket of long-dated muni issues, reflecting a weighted average maturity measured in decades, with monthly distribution mechanics typical of municipal income strategies. Its objective is to deliver income exempt from federal and, when applicable, state and local income taxes, consistent with the characteristics of the underlying municipal securities. The trust operates as a regulated investment company and is offered in series format with a defined life cycle, transitioning from initial offering to secondary trading after deposit. Portfolio holdings emphasize general obligation and revenue bonds diversified across states and essential services sectors such as housing, transportation, and local government finance. Within the municipal market, First Trust Tax Exempt Municipal Income, Series 283 serves as a packaged, time-defined vehicle that simplifies access to diversified, investment‑grade tax-exempt bonds and systematic monthly cash flows for investors prioritizing tax‑efficient income over active management.
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