1.141-2 (c) General definition of private activity bond.

Under section 141, bonds are private activity bonds if they meet either the private business use test and private security or payment test of section 141(b) or the private loan financing test of section 141(c). The private business use and private security or payment tests are described in sections 1.141-3 and 1.141-4. The private loan financing test is described in section 1.141-5.