TITLE

IRS: City's Management Contract Not Private Business Use

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
July 2003
SOURCE
Bond Buyer;7/29/2003, Vol. 345 Issue 31687, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the Internal Revenue Service has ruled that a management contract between a city water authority and a private entity does not constitute private business use in the U.S., regarding a contract case between a nonprofit corporation created to help a city acquire and finance real estate and equipments. Provision regarding tax-exempt status of bonds under the tax code; Problems in management contract in context of fixed fee requirements.
ACCESSION #
10401898

 

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