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.
An accounting estimate of the number of years it is likely for an asset to remain in service for the purpose of cost-effective revenue generation. The Internal Revenue Service (IRS) employs Useful Life for various purposes applicable to Tax-Exempt 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.
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