TITLE

IRS: N.Y.C. Can Use Long-Term Tax-Exempts Without a Penalty

AUTHOR(S)
Duff, Susanna
PUB. DATE
February 2003
SOURCE
Bond Buyer;2/11/2003, Vol. 343 Issue 31571, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that to help New York City recover from the September 11, 2001 terrorist attacks, the U.S. Internal Revenue Service (IRS) has determined that the city can issue bonds to pay for its operating expenses. Private-letter ruling related to the issue; Requirements by IRS regarding utilization of excess cash from the bond sale; Reason given by the agency for the private-letter ruling.
ACCESSION #
9154212

 

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