Conduit Bonds

Bonds issued by an Issuer in a Conduit Financing.

All the Bonds

Learn more about the various types of municipal obligations you may encounter.

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Evidence of the borrowing by an issuer and a debt instrument for tax purposes.

Conduit Financing

Financing in which the Issuer issues the bonds to finance a project to be used primarily by a third party.

Conduit Borrower

The private business that either receives the proceeds of the tax-exempt bonds through a loan by the issuer to fund all or a portion of a capital project or leases the facility financed with the proceeds of the tax-exempt bonds.

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Qualified Small Issue Bond

A type of private activity bond (PAB) permitted under Section 144(a) of the Code of under $1,000,000 in face value to finance certain projects relating to manufacturing facilities.