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An industrial revenue bond (IRB), also formerly known as an Industrial Development Bond (IDB), 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.
Revenue Bond of the City of New York, issued 3. June 1858, signed by mayor Daniel F. Tiemann. A revenue bond is a special type of municipal bond distinguished by its guarantee of repayment solely from revenues generated by a specified revenue-generating entity associated with the purpose of the bonds, rather than from a tax.
The Eddy County Board of County Commissioners Tuesday approved $500M of industrial revenue bonds to Matador Resources to build a new gas plant.
Most jurisdictions only allow bonds to be floated based upon a portion (usually capped at 50%) of the assumed increase in tax revenues. For example, if a $5,000,000 annual tax increment is expected in a development, which would cover the financing costs of a $50,000,000 bond, only a $25,000,000 bond would be typically allowed.
Aug. 8—CATLETTSBURG — The Boyd County Fiscal Court indicated a preliminary intention to issue an Industrial Revenue Bond to Revolutionary Racing on Tuesday. Jim Parsons, who serves as the ...
Oct. 27—Bernalillo County approved a tax break for an energy storage project in Southwest Albuquerque on Tuesday. New hotels and an apartment building near Sawmill Market and Hotel Chaco could ...
Years after the American Civil War, significant local debt was issued to build railroads. Railroads were private corporations, and these bonds were very similar to today's industrial revenue bonds. Construction costs in 1873 for one of the largest transcontinental railroads, the Northern Pacific, closed down access to new capital. [3]
Fulcrum sold about $290 million of environmental improvement revenue bonds between 2017 and 2020 through the Nevada Department of Business and Industry to fund construction of its Sierra Biofuels ...