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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Qualified 501(c)(3) Bonds
The term used in Section 145 of the code to refer to a type of tax-exempt bonds issued as private activity bonds for the benefit of a 501(c)(3) organization.