TITLE

Pennsylvania School District Looks To Sue 1997 Bond Deal Participants

AUTHOR(S)
McConnell, Alison L.
PUB. DATE
April 2006
SOURCE
Bond Buyer;4/4/2006, Vol. 356 Issue 32353, p40
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the lawsuit filed by the Hazleton Area School District against the participants of a 64.2 million dollars bond deal in Pennsylvania. The deal has included the put option escrow, which has been determined by the Internal Revenue Service as taxable. Hazleton has been attempting to raise funds for a closing agreement with the Internal Revenue Service, protecting the 1997 bonds' tax exempt status.
ACCESSION #
20464039

 

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