The Allegheny County, Pa., Sanitary Authority has agreed to pay $70,000 to settle Internal Revenue Service charges that it violated yield restriction requirements on an advance refunding escrow for $260.3 million of bonds issued in 2005.

The authority disclosed the settlement, or closing agreement as it called, in an event notice filed on the Municipal Securities Rulemaking Board's online EMMA system. The settlement will preserve the tax-exempt status of the sewer revenue refunding bonds.

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