North Little Rock, Ark., Latest to Announce IRS Audit

McConnell, Alison L.
May 2006
Bond Buyer;5/16/2006, Vol. 356 Issue 32382, p5
Trade Publication
The article reports that North Little Rock, Arkansas has been facing an Internal Revenue Service (IRS) investigation of its Series 1997 bonds that could cost bondholders up to million in penalties. The city became one of a dozen issuers to disclose an IRS audit. The IRS had found that the city has enclosed fee from an unidentified forward supply agreement provider.


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