NAMElocal - For each argument, a local variable named name is created, and assigned value
local [option] [name[=value] ... | - ]
For each argument, a local variable named name is created, and assigned value. The option can be any of the options accepted by declare. When local is used within a function, it causes the variable name to have a visible scope restricted to that function and its children. If name is -, the set of shell options is made local to the function in which local is invoked: shell options changed using the set builtin inside the function are restored to their original values when the function returns. With no operands, local writes a list of local variables to the standard output. It is an error to use local when not within a function. The return status is 0 unless local is used outside a function, an invalid name is supplied, or name is a readonly variable.
This is extracted from the main bash man page, see there for more details.