revenue bond

It also lowered the rating for the Municipal Improvement Corp. of Los Angeles’ lease revenue bonds, which are used to purchase city equipment such as fire trucks, to A+ from AA-.

Ting defended the deal, saying the state won’t authorize the lease revenue bond for the project without “very, very detailed plans.”

Many of the new barrelhouses are being built with industrial revenue bonds exempting them from property taxes for years or decades.

Distillers storing barrels in warehouses financed by industrial revenue bonds, to abate local property taxes, will pay barrel taxes as long as those contracts are in place.

According to the commission, the changeover would allow the airports, estimated to need nearly $200 million to finance new terminal and runway construction, to issue revenue bonds to fund improvements.