TITLE

IRS: Exempt Debt Cannot Refund Obligations to Pension Systems

AUTHOR(S)
Kinnander, Ola
PUB. DATE
September 2000
SOURCE
Bond Buyer;09/20/2000, Vol. 333 Issue 30979, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the United States Internal Revenue Service has determined in a private letter ruling that the Racine, Wisconsin, Unified School District cannot use tax-exempt debt to refund its obligations to the state's pension system. Tough stance by the IRS against local governments using tax-exempt bonds to achieve savings; Ruling in 1997 in the City of Columbus vs. Ohio case.
ACCESSION #
3602769

 

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