Tax exempt debt financing

This article – the second of two written for GWI by the law firm, Cadwalader Wickersham & Taft – discusses the general rules relating to private activity bonds used to finance the construction, purchase or rehabilitation of water facilities in the US. By Robert Vitale, David Feeney and Ross Peters.

A number of US municipalities are actively considering how the private sector can best provide the technical and financial assistance required to upgrade, operate and maintain water and wastewater systems. One of the main obstacles to outsourcing these services is that many cities initially raised the capital to build water systems by issuing long term tax exempt bonds, or else cities are...

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