"Questionable practices" regarding the financings of the incinerator retrofit project in Harrisburg, Pa., merit a further investigation by the Internal Revenue Service and the Securities and Exchange Commission, the attorney for the City Council said in a report issued Friday.

Mark Schwartz, calling the deals excessively fee-driven, said the $310 million of incinerator-related debt included $49 million of fees and other issuance costs, amounting to 16% of the debt.

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