TITLE

IRS: $345 Million of Seminole Hotel Bonds May Be Taxable

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/7/2004, Vol. 350 Issue 32024, p38
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Internal Revenue Service has warned the Capital Trust Agency, and the Seminole Tribe of Florida Inc. that interest on $345 million of tax-exempt bonds issued to construct two large hotels in conjunction with casino complexes may be taxable. The IRS concluded in a preliminary adverse determination letter that the deal's three series of revenue bonds were not validly issued under state law, according to a material event notice posted by Capital Trust on the nationally recognized municipal securities information repositories.
ACCESSION #
15305664

 

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