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Industrial Revenue Bond

   Also found in: Dictionary/thesaurus, Medical, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
Industrial revenue bond (IRB)
A bond issued by local government agencies on behalf of corporations.

Industrial Revenue Bond
A tax-exempt municipal bond in which a local government entity is seeking to raise money for a private company. It may be used, for example, to build a factory or some other facility on behalf of a private company. A municipality issues an industrial revenue bond when it wishes to attract a business and the jobs in brings to the area, especially when the business may be otherwise unable to obtain financing for the project. The municipality issuing the bond must be able to prove that a public benefit will be derived from the industrial revenue bond in order to qualify for tax-exempt status.

industrial revenue bond


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Bovie Medical Corporation (the "Company") (NYSE Alternext US: BVX), a manufacturer and marketer of electrosurgical products, today announced the closing of an Industrial Revenue Bond (IRB) offering by the Pinellas County Development Authority (Florida) on behalf of Bovie in the amount of $4,000,000.
James R Moffett, Co-Chairman of McMoRan said, "We appreciate the support of the State of Louisiana in our efforts to move forward with an Industrial Revenue Bond issue and think it positively demonstrates the benefits of private and public institutions working together to improve the economic climate of our state.
NYSE:PCH) today announced a possible refunding of some of its outstanding industrial revenue bonds.
 
 
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