KEDC, sponsored by a government unit, may issue bonds to finance projects involving significant private activity that promote new and existing business, encourage employment and expand the local tax base. Proceeds are passed on to private businesses, which are responsible for debt service payment.
For tax exempt bonds to finance land and depreciable property for manufacturing facilities:
Maximum issue amount: $10,000,000
Maximum Project Capital Expenditure: $20,000,000
Subject to volume cap
For taxable industrial revenue bonds:
Maximum issue amount: no limit
Maximum project capital investment: no limit
Not subject to volume cap