§ 111-6. Recovery zone facility bonds—Eligible activities/projects.

Latest version.

Eligible activities/projects that qualify for issuance of recovery zone facility bonds include any and all private activity bonds issued on behalf of qualified borrowers for projects located within the designated recovery zone, including qualifying capital improvements and infrastructure projects. However, proceeds of recovery zone facility bonds shall not be used in the active conduct of any of the following trades or businesses: (A) residential rental property or (B) any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack or other facility used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.

(Ord. No. 2009-025, §§ 1, 2, 9-15-09)

                    
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