TITLE

IRS Private-Letter Ruling Could Help a School District Rebuild

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
June 2004
SOURCE
Bond Buyer;6/2/2004, Vol. 348 Issue 31896, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on the United States Internal Revenue Service's (IRS) private letter ruling on the plans of a city school district to use tax-exempt bond financing to modernize facilities. Possibility that the school district will violate its state financing requirements and federal hedge-bond rules; IRS rule that the school district can allocate the bond proceeds to expenditures to satisfy the hedge bond rules; School district's plans to modernize buildings.
ACCESSION #
13279170

 

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