TITLE

Fargo May Have Known Of Arb Deal

AUTHOR(S)
McConnell, Alison L.
PUB. DATE
April 2006
SOURCE
Bond Buyer;4/19/2006, Vol. 356 Issue 32363, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the possibility of the city of Fargo in North Dakota to knowingly benefit from a bond transaction that allegedly earned arbitrage. This information was based on a letter from the Internal Revenue Service (IRS) released by the city. Fargo denied any wrongdoing and the bonds had not been formally declared taxable. Therefore, IRS officials encouraged issuers to disclose to bondholders all audits and adverse letters.
ACCESSION #
20597483

 

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