Private-purpose bond
A municipal bond allowing more than 10% of the proceeds go to private activities.
Taxed private-purpose bonds issued by the state or local government to finance prohibited projects such as sports stadiums.
Taxable transaction
Any transaction that is not tax-free to the parties involved, such as a taxable acquisition.
Taxable municipal bond Taxed private-purpose bonds issued by the state or local government to finance prohibited projects such as sports stadiums.
or other investments directly to an institutional investor like an insurance company, avoiding the need for SEC registration if the securities are purchased for investment as opposed to resale. Antithesis of public offering.
Private-purpose bond ...
 See also: Total capitalization, Tax deduction, Broker-dealer, Tax shield, Tax liability
  
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