An industrial revenue bond (IRB) is a unique type of revenue bond organized by a state or local government. The bond issue is sponsored by a government entity but the proceeds are directed to a private, for-profit business. ==Bond Structure== An IRB differs from traditional government revenue bonds as the bonds are issued on behalf of a private se...
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http://en.wikipedia.org/wiki/Industrial_revenue_bond
A tax-exempt bond issued by a state or local government agency to finance industrial or commercial projects that serve a public good. The bond usually is not backed by the full faith and credit of the government that issues it, but is repaid solely from the revenues of the project and requires a private sector commitment for repayment.
Found on
https://www.encyclo.co.uk/local/21181
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