Issuer
A state, political subdivision, agency or authority that borrows money through the sale of bonds or other securities.
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63-20 Corporation
A nonprofit public benefit corporation organized under state law that meets the requirements of Internal Revenue Service Revenue Ruling 63-20 to qualify as an Issuer of Tax-Exempt Bonds.
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See Also
Political Subdivision
A division of any state or local governmental unit which is a municipal corporation or which has been delegated the right to exercise a sufficient part of the sovereign power of the unit.
Shamberg Powers
The powers identified in Commissioner v. Shamberg’s Estate, 144 F.2d 998 (2d Cir. 1944) as the powers used to identify what is a political subdivision of a state or local governmental entity in the United States, specifically, the power of eminent domain, the power to tax, and the police power.
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Conduit Issuer
The issuer in a conduit financing.