PABs definition
PABs means bonds, notes or other evidence of indebtedness issued by the PABs Issuer pursuant to the provisions of Internal Revenue Code Sections 142(a)(15) and (m) (which acronym stands for “private activity bonds”).
PABs means private activity bonds.
PABs means bonds, notes or other evidence of indebtedness issued by the PABs Issuer, 95 percent or more of the net proceeds of which are to be used to provide for “qualified highway or surface freight transfer facilities” within the meaning of section 142(m) of the Internal Revenue Code, and for which an allocation has been obtained from the Secretary of Transportation.