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Industrial Revenue Bond |
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Industrial revenue bond (IRB)
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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Fortunately for us, the industrial revenue bond market dried up. 5 million industrial revenue bond upon maturity in July 2005, reducing total debt to $100 million. On Wednesday, August 9, Prime received unanimous approval by the Bernalillo County Commission for an Industrial Revenue Bond (IRB) Inducement Resolution. |
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