TITLE

IRS: Interest on Erie, Pa., District's Bonds May Be Taxable

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
October 2004
SOURCE
Bond Buyer;10/14/2004, Vol. 350 Issue 31989, p30
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on the United States Internal Revenue Service's (IRS) notification to the Erie, Pennsylvania, City School District that the interest in its tax-exempt bonds may be taxable because of its use of option escrow. Auditing of the bonds; School district's belief that it has complied with the applicable tax laws; Claims of IRS that the bonds are considered arbitrage bonds.
ACCESSION #
14762593

 

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