Arkansas Industrial Revenue Development Bond Workform
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How to fill out Industrial Revenue Development Bond Workform?
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FAQ
Munis can generally be classified into two camps?general obligation bonds and revenue bonds. General obligation, or GO, bonds are backed by the general revenue of the issuing municipality, while revenue bonds are supported by a specific revenue source, such as income from a toll road or sewer system.
BOND ISSUERS Specific requirements vary under state law. State Law. Private Activity Bonds must be issued by governmental authorities. Virtually all states authorize Bond financing, and the types of Issuers and the Projects that they may finance vary.
Industrial revenue bonds (IRBs), commonly known as ?Act 9 Bonds? in Arkansas, provide eligible existing companies with competitive financing options for property, plant and equipment expenses. Under Arkansas Act 9 of 1960, cities and counties are authorized to issue IRBs to benefit private companies.
Revenue bonds are a class of municipal bonds issued to fund public projects which then repay investors from the income created by that project. For instance, a toll road or utility can be financed with municipal bonds with creditors' interest and principal repaid from the tolls or fees collected.