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 ?
Under Arkansas Act 9 of 1960, cities and counties are authorized to issue industrial revenue bonds to help private companies.
The agency placed on a review for possible upgrade the company's Baa3 senior unsecured notes rating, Prime-3 short-term rating, Baa3 backed industrial revenue bonds rating, (P)Baa3 senior shelf rating, (P)Ba1 subordinated shelf rating, (P)Ba1 senior subordinated shelf rating, (P)Ba1 junior subordinated shelf rating and (P)Ba2 preferred shelf rating.
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.
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.
So the city of Osceola stepped up and agreed to do bond financing, very similar to industrial revenue bonds, for $2 million," he said.
It is a conduit agency that issues tax-exempt industrial revenue bonds that assist eligible industrial, commercial and not-for-profit entities to finance expansion opportunities.
7 million in Industrial Revenue Bonds was passed by the Wichita City Council with a vote of 7-0.
The Arkansas Development Finance Authority assisted in the expansion project financing by issuing industrial revenue bonds.
EDC administers the programs of the New York City Industrial Development Agency (IDA), which issues double and triple tax-exempt industrial revenue bonds to assist eligible commercial, industrial and nonprofit corporations to finance business expansion within the city's five boroughs.

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