4.2.3 “On Behalf of” Issuers

4.2.3 “On Behalf of” Issuers

An entity that is not itself a state or political subdivision may still issue tax exempt obligations if it is deemed to be issuing such obligations “on behalf of” a state or local governmental unit. “On behalf of” issuers include constituted authorities, “63-20 corporations,” and other issuers. The sections below described these “on behalf of” issuers.