Tennessee Industrial Revenue Development Bond Workform

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US-DD01004
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Industrial Revenue Development Bond Workform
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FAQ

Which statement best describes an industrial revenue bond? An industrial revenue bond is issued by a municipality to finance an asset that is leased to a private firm. The corporation's lease payments repay the bonds.

Industrial Revenue Bonds (IRBs) That means that the investors who buy the bonds do not have to pay federal (and often state) tax on the interest income they receive. Because of this advantage, tax-exempt bonds typically carry a lower rate of interest.

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.

Industrial revenue bonds (IRB) are municipal debt securities issued by a government agency on behalf of a private sector company and intended to build or acquire factories or other heavy equipment and tools. IRBs were formerly called Industrial Development Bonds (IDB).

The function of the Industrial Development Board is to acquire, own, lease, and dispose of properties to the end that corporations may be able to promote industry and develop trade by inducing manufacturing, industrial, and commercial enterprises to locate in Nashville.

Bond Structure IRBs are typically used to support a specific project, such as a new manufacturing facility. The bond issue is created and organized by a sponsoring government, with the proceeds used by the private business. The business is responsible for bond repayment.

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.

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.

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Tennessee Industrial Revenue Development Bond Workform