The Illinois Finance Authority is one of the largest issuers of private activity bonds in the nation. Private activity bonds (PABs or federally tax-exempt conduit infrastructure bonds) enable the following types of charities and 501(c)(3) organizations to finance their capital infrastructure projects at generally lower interest rates and longer maturities – and to create long-term economic value for communities throughout Illinois. PABs also allow a small number of other qualified entities or facilities (small farmers and manufacturers, solid waste disposal, and logistics facilities of regional importance) to do the same.