In a favorable decision, the Internal Revenue Service ruled that assessment bonds and lease revenue bonds do not satisfy a private loan financing test, according to recently issued private letter rulings.
IRS Issues Favorable Letter-Ruling for Assessment and Lease Revenue Bonds
NOV 19, 2012 9:26pm ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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