ANNOUNCED AS TEMPORARYNo
On November 12, 2010 the California Municipal Finance Authority issued a series of three Recovery Zone Facility Bonds for the benefit of the Chevron USA Inc. Project, Series 2010a Recovery Zone Bonds (CA). At issuance these bonds were collectively valued at $250,000,000. 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.
⚑ Please report this page in case you detect an inaccuracy in its content.