industrial revenue bond

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Related to industrial revenue bond: Industrial Development Revenue Bonds

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

References in periodicals archive ?
The Arkansas Development Finance Authority assisted in the expansion project financing by issuing industrial revenue bonds.
The Company worked with the City of Olathe and has been approved for both Industrial Revenue Bonds and a tax abatement to develop the project.
IDA is a conduit agency that issues tax-exempt industrial revenue bonds to assist eligible commercial, industrial, not-for-profit and other qualified entities to finance expansion opportunities.
So the city of Osceola stepped up and agreed to do bond financing, very similar to industrial revenue bonds, for $2 million," he said.
7 million in Industrial Revenue Bonds was passed by the Wichita City Council with a vote of 7-0.
Pending final approval by the Board of Supervisors, the institute has secured financial backing from Fairfax County that could include the FCEDA issuing industrial revenue bonds that private investors would purchase and would be used to support construction of the permanent headquarters.
A representative of Infigen, the Australian firm that owns the Caprock Wind Farm, and a bond attorney, on December 8, 2014, asked for authorization from the Quay County Commission to seek industrial revenue bonds for the project.
During his five-year tenure, his office completed more than $130 million in tax increment financing projects, including Gallery Place, the Spy Museum and the Mandarin Hotel; more than $3 billion in industrial revenue bonds transactions for other commercial, educational and cultural projects; and has built 13,000 units of affordable housing.
The city has also anticipated $20 million in industrial revenue bonds.
Under Arkansas Act 9 of 1960, cities and counties are authorized to issue industrial revenue bonds to help private companies.
Farr continued, "Highland is expected to arrange financing from a variety of sources that may include Industrial Revenue Bonds, equity and grants.
announced today that on November 4, 2002, they agreed to the terms of the issuance by JEDA and the purchase by SunTrust Capital Markets for public distribution thereafter of JEDA's $90,425,000 principal amount Industrial Revenue Bonds (South Carolina Electric & Gas Company Project), Series 2002A and 2002B.

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