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.