TITLE

IRS Deems 1997 Harrisburg, Pa., Sale Taxable

AUTHOR(S)
McConnell, Alison L.
PUB. DATE
June 2006
SOURCE
Bond Buyer;6/22/2006, Vol. 356 Issue 32408, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Internal Revenue Service (IRS) has declared the refunding bonds sold by Harrisburg, Pennsylvania in 1997 to be taxable. According to the article, Harrisburg has disclosed the deal as part of an investigation for an allegedly improper financial relationship between CDR Financial Products and Bear Stearns Capital Markets Inc. The Harrisburg deal covers Series 1997D general obligation refunding bonds that refunded a prior series of the city's bonds.
ACCESSION #
21349909

 

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