Clearing the Air on Tax-Exempt Pollution Control Facility Financing

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Authors
Kutak, Robert J.
Wagner, John J.
Issue Date
1975
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Journal Article
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INTRODUCTION |This discussion of tax-exempt pollution control financing is intended as a primer on the subject. The purpose of the article is to flag important questions concerning tax-exempt pollution control financing rather than provide sophisticated answers for problems identified by any particular financings. A tax-exempt pollution control financing is comparable in most respects to a traditional corporate debt financing. Even though there is a new party in the transaction-the public body issuing the revenue bonds the form and substance are very similar to a typical debt financing. |In its Fifth Annual Report on Environmental Quality, the Council on Environmental Quality estimated that in 1973 industry (including major feedlot operations, but excluding other agricultural business) had spent at least $4,938 million for air and water pollution control- $3,176 million for air pollution control and $1,762 million for water pollution control-out of a total of $100,076 million for new plants and equipment. In 1974 an estimated $6,543 million was spent for air and water pollution control facilities- $4,346 million for air and $2,196 million for water-out of a total of $112,114 million for new plants and equipment....
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8 Creighton L. Rev. 567 (1974-1975)
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Creighton University School of Law
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