Exempt Facilities Bonds may be issued under certain circumstances for:
Docks and wharves
Mass commuting facilities
Solid waste disposal facilities
Qualified residential rental projects
Facilities for the local furnishing of electric energy or gas
Local district heating or cooling facilities
Environmental enhancements of hydroelectric generating facilities
Generally the requirements with respect to qualified small issue bonds are applicable to exempt facilities bonds except the following:
$40,000,000 per user limit
Airports, docks and wharves, and mass commuting facilities must be owned by a governmental unit.
Exempt Facilities Bonds generally must be used to provide facilities that serve the general public or are available on a regular basis for general public use (sewage and solid waste disposal facilities are treated as qualifying automatically).
120% average maturity limit
public hearing requirement
2% issuance cost limit
Prohibition of direct or indirect federal guarantee