The firm also secured the Healthcare and Life Sciences Deal of the Year (Under $100 million) award for its representation of the Bank of New York Mellon Trust Company as Indenture Trustee to the holders of HUD-insured industrial development bonds
in the Chapter 11 bankruptcy of North Philadelphia Health System.
ACIDA provides financing for industrial development bonds
, SBA loans and other economic development programs in the city.
Late last year, Pacific, using state industrial development bonds
, bought the medium-sized metal shredder that it's now installing.
Previously, bond insurance ' was often used to provide credit enhancement for the issuance of industrial development bonds
, but the bond insurance market has collapsed during the past couple of years, and companies are now relying on guarantees or letters of credit.
The package provided by the bank includes the purchase of USD5.5m in tax-exempt industrial development bonds
from MassDevelopment and a USD500,000 line of credit.
Rittner touches on many types of private activity bonds, including: small issue industrial development bonds
, qualified redevelopment bonds, qualified mortgage bonds, new clean renewable energy bonds, and qualified zone academy bonds.
"[S]pecific investment advice" includes a recommendation, analysis or report about specific securities or specific categories of securities (e.g., industrial development bonds
, mutual funds, or medical technology stocks).
For many years in the United States, industrial development bonds
similar to the Grow Bonds have been offered at less than the prime rate.
Bailey says many Alabama mills are nominally owned by the state through industrial development bonds
, but in some cases the major bond holder is the company itself.
The case involved a challenge, supported by Americans for Religious Liberty, of the use of industrial development bonds
to aid the pervasively sectarian David Lipscomb University in Nashville, Tennessee.
After another public bearing on May 30, 1990, the Board formally approved the issuance of $15 million in tax-exempt industrial development bonds
to finance the loan.
Industrial Development Bonds
: Qualified Small Issue Bonds, Exempt Facility Bonds State or local governmental entities can issue bonds to finance qualified manufacturing facilities and equipment, pollution control facilities and other projects permitted under federal law, Interest on the bonds is generally exempt from federal income taxes for investors, which typically results in lower long-term interest rates to the borrower.