District of Columbia Industrial Revenue Development Bond Workform
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How to fill out Industrial Revenue Development Bond Workform?
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FAQ
IRB can be used to finance, refinance, and reimburse the costs of acquiring, constructing, restoring, rehabilitating, expanding, improving, equipping, or furnishing real property and related subordinate facilities. More than $11.5 billion has been issued through Washington, DC's IRB program since 1994.
Government agencies issue bonds to finance a variety of economic or public development projects for private and public entities. When investors purchase bonds, they essentially lend money to the borrower through the issuer.
An IRB is a variety of revenue bond, specifically a private activity bond. IRBs raise capital to fund the development of a manufacturing facility or equipment that will benefit the community at large; bondholders are repaid by the revenue the project generates.
Key Takeaways. 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.
Revenue bonds are issued by a state or local entity to fund a specific project, such as a toll road, airport, bridge, or sewer facility. Put another way, municipalities issue revenue bonds to support their infrastructure projects.
In addition, the Bank may dictate the rate at which VDRBs bear interest while held by the Bank. Although the structure of a revenue bond can appear complex, there are a number of benefits to the borrower, including a relatively low interest rate, a fixed interest rate, if desired, and a long amortization period.
Interest Rate Risk. Interest rate risk is the potential for bond prices to decrease as market interest rates rise. Since revenue bonds often have longer maturities than other types of municipal bonds, they may be more susceptible to interest rate fluctuations.
The bonds may be repaid through the revenue earned by the transportation system. However, some transportation revenue bonds are repaid through taxes generated in the area the system serves or another pledge.