A Public Agency Revenue Bond (PARB) is a debt instrument that is used to finance facilities for revenue producing public agencies. PARB is a conduit tax-exempt and (or taxable) bond financing used to expand unique programs of specific state and local government agencies
Who Can Apply
Examples of Public Agency Revenue Bonds
These include state entities or programs, such as the Clean Water State Revolving Fund or toll bridges. Schools can also qualify for a variety of improvements or construction.
Expand unique programs of specific state and local government agencies used for the furtherance of governmental and qualified purposes including the construction of transportation/transit (airports, ports), water/waste water system, power generation/transmission system, sewer system, schools, as well as facilities and equipment used in providing related qualified services to such entities.
Some of the condition which must be met are:
The facilities must be open to use by the general public.
The facilities must be owned by a governmental unit.
PARB will be issued only for the public development facilities and federal income tax exemption benefit depends on satisfaction of certain requirements that are not complicated for the public agency owned and operated facilities.
How to Apply
Applications are continuously accepted. We encourage you to call us before applying. IBank representatives provide technical assistance and work with you throughout the process. IBank’s Board of Directors normally meets each month to consider approval of applications received prior to the meeting date. Check here for board meeting deadlines.
For more information contact:
Fariba Khoie, Bond Program Manager
Office Address: 1325 J Street, Suite 1300, Sacramento, CA 95814
Mailing Address: P.O. Box 2830, Sacramento, CA 95812-2830
Telephone: (916) 341-6600
Disclaimer: Nothing contained herein should be construed or relied upon as legal advice. Instead, this information is intended to serve as an overview of the general subject of the use of tax-exempt bonds by nonprofit corporations, from which better-informed requests for advice, both legal and financial, can be formulated.