ANNOUNCED AS TEMPORARYNo
On December 22, 2010 the Business Finance Authority of the State of New Hampshire issued Variable Rate Demand Limited Obligation Recovery Zone Facility Revenue Bonds, Series 2010 for the Canam Steel Corporation Project (NH). That project produces steel decking. At issuance this bond was valued at $10,000,000. Recovery Zone Facility Bonds (RZFBs) are a type of traditional tax‐exempt private activity bond that may be used by private businesses in designated recovery zones to finance a broad range of depreciable capital projects. They were authorized by Federal law — the American Recovery & Reinvestment Act of 2009 (ARRA) — which created several new types of tax-exempt bonds and tax credit bonds under the Internal Revenue Code. The governmental issuer of these bonds may elect (in lieu of issuing tax-exempt bonds) to receive a direct refundable credit payment from the Federal government equal to a percentage of the interest payments on these bonds. RZFBs are subject to a nationwide volume cap limitation.
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