The Internal Revenue Service is auditing $378.15 million of Series 2007A gas supply variable-rate revenue bonds and $4.82 million of Series 2007B gas supply fixed-rate subordinated revenue bonds issued by the Lower Alabama Gas District in September 2007.

The IRS notified the district about the audit in a June 29 letter. The district disclosed the letter in an event notice it filed with the Municipal Securities Rulemaking Board’s online EMMA system on Friday.

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