The Municipal Finance Corporation —Spanish: ''Corporación de Financiamiento Municipal'' (COFIM)— is a government-owned corporation of Puerto Rico that issues

government bond A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity dat ...

s and uses other financing mechanisms to pay or refinance, directly or indirectly, in whole or in part, the debts of the municipalities of Puerto Rico payable or backed by the Puerto Rican municipal sales and use tax. The corporation is an affiliate of the Government Development Bank and is identical to

COFINA The Puerto Rico Urgent Interest Fund Corporation (also known as the Puerto Rico Sales Tax Financing Corporation) —Spanish: ''Corporación del Fondo de Interés Apremiante'' (COFINA)— is a government-owned corporation of Puerto Rico ...

, save that its funds come from the municipal aspect of the sales tax rather than from the state one. Puerto-rico-sales-and-use-tax-components

References

{{authority control Government-owned corporations of Puerto Rico Public debt of Puerto Rico Taxation in Puerto Rico