IRS Probes Land-Backed Deal Parties

Hume, Lynn
December 2000
Bond Buyer;12/21/2000, Vol. 334 Issue 31042, p1
Trade Publication
Reports on the United States Internal Revenue Service's plan to audit a number of land-secured financings underwritten by Pacific Genesis Group Inc. Possibility that the bonds could be declared taxable if violations are found; Official statement for the unrated certificates of participation that were underwritten by Pacific for the Sierra Foothills Public Utility District.


Related Articles

  • Nevada Corporations Accept IRS Agreement. McConnell, Alison L. // Bond Buyer;8/28/2006, Vol. 357 Issue 32454, p5 

    The article reports on the closing agreement of the Internal Revenue Service (IRS) with two corporations in Nevada. The Desert Springs Community Corp. and developer Mojave Valley Resort Inc. stated that IRS declared their Series 1999 bonds taxable for they are private-activity bonds sold by an...

  • IRS Tells 2 Issuers That Deals May Be Taxable. Newman, Emily // Bond Buyer;1/27/2005, Vol. 351 Issue 32058, p5 

    Reports on the warning of the U.S. Internal Revenue Service (IRS) on two issuers, the Altoona City Authority in Pennsylvania and the Manitowoc Community Development Authority in Wisconsin that their tax-exempt bonds issues could be declared taxable. Claim of IRS of possible violations committed...

  • Oxnard Becomes 3d California School District to Hear From IRS on Arbitrage. McConnell, Alison L. // Bond Buyer;9/19/2006, Vol. 357 Issue 32469, p5 

    The article reports that the U.S. Internal Revenue Service (IRS) has made a preliminary determination that the Oxnard Union High School District's refunding bonds are taxable. The decision was made after a municipal disclosure. The IRS believed that securities for the advance refunding escrow...

  • IRS Gives Leeway to Solid-Waste Facility Impacted by Hurricanes. Schroeder, Peter // Bond Buyer;4/8/2008, Vol. 364 Issue 32852, p5 

    The article reports on the issuance of a private-letter ruling by the U.S. Internal Revenue Service which gives leeway on tax law requirements to solid-waste facility impacted by hurricanes. The ruling states that a private management contract for a bond-financed facility that would not comply...

  • Ohio County Uses 3d-Party Payment to Settle Tax Law Dispute With IRS. Schroeder, Peter // Bond Buyer;8/1/2008, Vol. 365 Issue 32931, p25 

    The article reports on the use of a third-party payment by Clinton County, Ohio to settle tax law disputes with the Internal Revenue Service (IRS). The county, which has two hospital revenue bond issues amounting more than $300 million, uses the third-party payment to protect the tax-exempt...

  • IRS: More VCAP Resolution Standards Coming. Jagoda, Naomi // Bondbuyer.com;9/20/2013, p6 

    The article discusses plans of the U.S. Internal Revenue Services (IRS) release more streamline resolution standards in October 2013 that provide penalties for some types of bond-related tax violations reported by issuers under the IRS' voluntary closing segment program. The standards will...

  • Pacific Genesis Discloses Major Problems Facing Project Bonds. Hume, Lynn // Bond Buyer;05/31/2001, Vol. 336 Issue 31150, p1 

    Reports on Pacific Genesis Group Inc.'s revised disclosure document for the latest bond offering to finance the proposed Rancho Lucerne residential golf course community. Percentage of bonds offered for the project that were refunded or retired with bond proceeds; Supplemental disclosure...

  • Pacific Genesis trades bonds before winning competitive sale. Figler, Andrea // Bond Buyer;12/30/99, Vol. 330 Issue 30798, p1 

    Focuses on alleged violations by Pacific Genesis Group of rules by the United States Municipal Securities Rulemaking Board. Practice of trading before receiving an award on a competitive sale; Need for the buyer to rely on the seller to assure they win the deal; Winning bid for bonds of the...

  • California Suit Contests PGG Bonds. Hume, Lynn // Bond Buyer;06/02/2000, Vol. 332 Issue 30904, p1 

    Reports on the lawsuit by the California treasurer and attorney general challenging the validity of lease revenue bonds underwritten by Pacific Genesis Group Inc. Plan to use the bonds to finance the development of a golf course in the San Bernardino Mountains; Ongoing battle over a seires of...


Read the Article


Sign out of this library

Other Topics