WASHINGTON — Colorado Springs has paid $95,000 in a settlement with the Internal Revenue Service over $344.875 million of utilities system refunding bonds that were issued in 1991 and later associated with an allegedly undervalued forward-float contract.

The city disclosed the Jan. 28 settlement — which preserves the tax-exempt status of the bonds as well as related refunding bonds — in a material event notice sent to nationally recognized municipal securities information repositories late Tuesday.

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