industrial revenue bond

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Industrial revenue bond (IRB)

A bond issued by local government agencies on behalf of corporations.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

industrial revenue bond

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
The Albuquerque Journal reported that the Los Lunas Village Council late last month approved up to $30 billion in industrial revenue bonds for a data center - described as a "large, publicly traded, multi-national internet company," without specifying the name.
Elecsys worked with the city of Olathe and has been approved for both industrial revenue bonds and a tax abatement to develop the project.
Industrial Revenue Bonds (IRBs) are a type of loan secured through letter of credit banks that provide below-market interest rates for eligible uses, such as purchasing land and equipment, constructing buildings and upgrading existing facilities.
Dingman says industrial revenue bonds will lead to lower property taxes for the project.
The state allowed Pacific to use the industrial revenue bonds process, so long as the expansion was approved by city officials.
Moody's Investors Service has today corrected the current rating and rating history of the Series 2002 industrial revenue bonds (CUSIP: 74527BSL9) issued by Doral Properties,
The City Council of Wichita, Kan., has approved $59.5 million in industrial revenue bonds for Spirit AeroSystems.
As a strategic partner to the CEO, setting overall direction for the company, Bill is responsible for all financial functions, including strategic planning, communications with shareholders, cost estimating and product pricing, financial risk, accounting policy and procedures, treasury management, lender relationships, debt, industrial revenue bonds, budgets, forecasts, and taxes.
The parent company, Flint Hills Resources LLC, rated A+/Stable/A-1, remains the guarantor of Flint Hills Resources LP's rated industrial revenue bonds, S&P said..
We are debt-free and have never received any loans, financial grants or industrial revenue bonds from any governmental agency.

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