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The IFA has the ability to issue conduit debt for the benefit of private third parties. Conduit debt is not subject to state appropriation, in that the IFA merely acts as an issuer and does not support the underlying borrower's credit.
Conduit debt is not considered part of the IFA's debt portfolio. Therefore, the numbers reflected in the State Debt Overview and the tables contained in this website do not include conduit debt.
Posted on 6/30/11