Kentucky Agency Settles to Preserve Tax-Exempt Status

McConnell, Alison L.
February 2006
Bond Buyer;2/8/2006, Vol. 355 Issue 32315, p5
Trade Publication
The article reports on the preservation of the tax-exempt status of the retired debt of the Kentucky Association of Countries Advance Revenue Program. It has settled with the Internal Revenue Service over information pertaining violations of the arbitrage rules of the tax code. In order to strengthen the cash-flow gaps for participating county governments in the state, the short-term debt has been sold.


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