Business, Legal & Accounting Glossary
A tax-exempt bond issued by a state or local government to non-profit organizations such as educational facilities, churches, and other charitable groups. Higher education facilities, hospitals, and organizations that provide lower income housing benefit the most from this type of bond. Since this type of bond is tax-exempt, its rates are usually lower than standard forms of financing.
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Definitions for 501-(C)(3) Bond are sourced/syndicated and enhanced from:
This glossary post was last updated: 13th November, 2021 | 0 Views.