The Internal Revenue Service has initiated an audit of $21.8 million of tax refunding bonds issued in 2005 by the Uvalde, Tex., Consolidated School District.

The district disclosed the IRS action in a notice filed late Monday with the Municipal Securities Rulemaking Board’s EMMA system.

The bonds were issued to refund existing district debt — $13.5 million of bonds issued in 1998 and $8.3 million of bonds issued in 2000.

On July 19, the district received a letter from the IRS, dated July 12, announcing the beginning of the audit.

It said in its notice that it is complying with the service’s information request. The district’s notice described the audit as random. But it disclosed a copy of the IRS’s letter that indicated it might be part of a series of audits the agency is doing on governmental bonds.

The IRS said in its letter it was initiating the audit as part of a project initiative involving government obligations, but that it currently has no reason to suspect the bonds are in violation of tax requirements.

The service asked the district to fill out an information document request form accompanying the letter and to provide the official statement, the entire bond transcript, the arbitrage/tax ­certificate, several escrow-related ­documents, and any investment ­contracts.

The agency also asked for rebate calculations, as well as a description of any hedging contracts entered into related to the bonds. A copy of the information document request was included in the notice.

The bonds were guaranteed by the Texas Permanent School Fund, which had a triple-A financial insurer strength rating at the time of issue by Fitch Ratings and Moody’s Investors Service, according to bond documents.

Fulbright & Jaworski LLP served as bond counsel on the deal. The bonds were underwritten by RBC Dain Rauscher, now RBC Capital Markets, First Southwest Co., Estrada Hinojosa & Co., and Southwest Securities.

District officials could not be reached for comment.

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