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pollution control bond

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Pollution Control Bond
A municipal bond issued by a local government that finances some equipment intended to control pollution for use by a private company. The coupons on pollution control bonds were formerly tax exempt to encourage green investment, but this exemption ended in 1986. Payment on the coupons and principal is guaranteed by the revenue generated by the pollution control equipment. See also: Private activity bond.

pollution control bond
A municipal revenue bond in which debt service is secured by payments from a private firm using pollution control equipment that the bond was used to finance. Thus, the guarantee of repayment is made by the private firm rather than by the municipal issuer. For pollution control bonds issued before August 8, 1986, interest is free from federal taxation. Tax reform passed in 1986 eliminated this exemption. Interest on pollution control bonds issued on or after August 8, 1986, is fully taxable.

pollution control bond

A tax-exempt security issued by a state,certain agencies or authorities,a local government,or a development corporation in order to finance the construction of air or water pollution control facilities or sewage or solid waste disposal facilities in accordance with federal law. These bonds are backed by the credit of the pollution control entity,not the issuer.



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The pollution control bonds drew 59 percent, while the school and library bonds had 54 percent support.
Bank has been named trustee of the bonds for Rhode Island Clean Water Finance Agency Water Pollution Control Bond Series 2009A, representing $41,555,000 million in bond issuances.
The Alternate Energy Project bonds will finance various conservation, energy improvement, and renewable energy projects while the Pollution Control bonds will fund Oregon's matching component for the federal Clean Water State Revolving Fund loan program.
 
 
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