Industrial Revenue Bonds
Industrial Revenue Bonds (IRBs) are used to facilitate tax exempt bonds for organizations or business looking to finance a product, services, or program that perform a public purpose. Lexington can serve as a conduit issuer of these bonds provided that the bonds are used for the intended purposes. Specific information about approved uses of an Industrial Revenue Bond can be found in the complete Guidelines for IRB. The Guidelines, IRB Application, and Frequently Asked Questions can be found by clicking on the links below.
Once an application is submitted to the Mayor’s Office of Economic Development, it is reviewed by an IRB committee, provided the application is complete and meets preliminary staff review. Meetings of the IRB Committee occur on an as needed basis depending upon whether there is an application to review. Members of the IRB committee can be viewed by clicking on this link.