SAN FRANCISCO — The Idaho Housing and Finance Association is trying to buy out holders of outstanding bonds in a bid to take advantage of federal stimulus legislation that permits the agency to issue housing bonds without interest being subject to the federal alternative minimum tax.

The tender offer — available at — applies to all $388 million in fixed-rate single-family mortgage revenue bonds the association issued between 2004 and 2008, said John Sager, its chief financial officer and senior vice president.

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