4.7.2.6 Certain Prohibited Facilities
None of the proceeds of qualified private activity bonds may be used to provide any of the following:
- Airplanes
- Skyboxes or other private luxury boxes
- Health club facilities
- Facilities primarily used for gambling
- Stores with the principal business of selling alcoholic beverages for consumption off premises
The prohibition against financing health club facilities does not apply to qualified 501(c)(3) bonds.