WASHINGTON — The Agua Caliente Band of Cahuilla Indians in California has reached a closing agreement with the Internal Revenue Service over $22.5 million of revenue bonds it issued in 2003 to finance a golf course and accompanying facilities.

The tribe announced the agreement in a material event notice filed with the Municipal Securities Rulemaking Board's online EMMA system late Wednesday. However, the notice did not detail the terms of the agreement, which typically involves some sort of payment from the issuer in exchange for which the IRS will agree to keep the bonds tax-exempt.

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