3.3.9.1 Exempt Facilities

3.3.9.1 Exempt Facilities

Exempt financed facilities generally fall into one of three broad categories:

• Transportation facilities, such as airport, port, mass commuting, and intercity rail facilities
  
  
• “Utility” facilities, such as facilities for water supply, sewage, solid waste disposal, and under limited circumstances, electricity and gas
  
  
• Multifamily housing bonds (discussed below) 

Many private conduit borrowers are providing services to the public that are often provided directly by governmental entities. 

ISSUERS – Exempt facility bonds may be issued by some public agencies. Most, however, are issued either by a joint exercise of powers agency (JPA) with a statewide geographic scope or by a state agency such as the California Pollution Control Financing Agency.