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

Barnett, Susanna Duff
October 2004
Bond Buyer;10/14/2004, Vol. 350 Issue 31989, p30
Trade Publication
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.


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