Non-Purpose Investments
Investment property other than purpose investments.
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Purpose Investment
Investment property acquired to carry out the purpose of a governmental program for which the Bonds are issued (i.e., conduit loans, mortgage notes, mortgage-backed Securities and student loan obligations).
See Also
Program Investment
Purpose investments that meet certain rules set forth in Treasury Regulations Section 1.148-1(b).
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Exempt Facility Bonds
Type of private activity bond (PAB) permitted to be issued as a tax-exempt bond under Section 142 of the code for the purpose of funding many categories of exempt facilities.