IRS: Florida Pooled Bonds Broke Rules

August 2003
Bond Buyer;8/25/2003, Vol. 345 Issue 31705, p1
Trade Publication
Reports that two multi-family housing bond pool issues totaling $350 million by Capital Trust Agency, based in Gulf Breeze, Florida, violate the tax code's arbitrage regulations and could be declared taxable as of August 25, 2003. Reason for the declaration of bonds to be taxable; Investigation by Internal Revenue Service regarding these bonds; Companies to which these two bond issues were made.


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