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Taxation

IRS: $35M of Bell, Calif. GO Bonds May Not Be Tax Exempt

NOV 12, 2012 3:26pm ET

The IRS has told the city of Bell, Calif., that $35 million of general obligation bonds it issued in 2007 may not be tax-exempt because the agency believes the bond issue is a hedge bond.

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Comments (1)
This bond issue was a fiasco from day one. Nothing but corruption packaged into a financial deal that was then sold to the public.
Posted by Shane M | Tuesday, November 13 2012 at 11:04PM ET
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