industrial revenue bonds

industrial revenue bonds definition - finance
Bonds that are designed to promote economic development. The proceeds from the bond sale are loaned to businesses to pay for buildings or other capital investment projects. The bonds must be paid back by the company; the government gives its name to the bond issue, but not its credit rating. Typically, these bonds are tax exempt. Also called industrial development bonds.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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