IRS Says Illinois Deal Not Exempt

Shields, Yvette
November 2002
Bond Buyer;11/22/2002, Vol. 342 Issue 31519, p1
Trade Publication
Reports on the issuance of preliminary determination by the Internal Revenue Service that interest on a multi-million dollar industrial revenue bond issue is not exempt from federal income taxes. Use of standby letter of credit in the deal; Effects of the decision on other bond deals; Other transaction of the Federal Home Loans' regional banks; Contents of a 1995 private letter ruling issued by the IRS.


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