Ruling Allows for Flexibility In Output Purchase Exception

July 2003
Bond Buyer;7/22/2003, Vol. 345 Issue 31682, p5
Trade Publication
Reports on the ruling given by the U.S. Internal Revenue Service according to which a public power utility can disregard contractual payment made by a private party to cover operating and maintenance cost when applying the small purchase exception of the output regulations. Existing regulations on small purchases of output from a power facility; Effectiveness of private-letter rulings; Significance of the rulings for public power issuers.


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