WASHINGTON - In what appears to be a first-of-its-kind action, the Rockdale County, Ga., Development Authority has reached a closing agreement with the Internal Revenue Service under its tax-exempt bond mediation program to maintain the tax-exempt status of $77 million of solid-waste disposal revenue bonds issued in 1993.

The authority disclosed the settlement, which was reached in September, in a material event notice filed last night with the nationally recognized municipal securities information repositories. The notice did not disclose the details of the settlement, and lawyers involved with the transaction declined to comment.

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