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.
bond-basics
Guaranteed Investment Contract (GIC)
An investment agreement offered by financial institutions (e.g., banks or insurance companies) which pays a stated rate of return on invested Bond proceeds for a stated term. In order to establish the fair market value of a Guaranteed Investment Contract for purposes of meeting the requirements under the Code and Treasury Regulations for Tax-Exempt Bonds, bids must be sought for Guaranteed Investment Contracts.
