The Internal Revenue Service is auditing $63.2 million of Build America Bonds that a school district in Finney County, Kan., issued in mid-2009 to finance a new high school and an addition to an elementary school, according to the district’s chief financial officer.

The IRS notified Unified School District 457 of the audit in a Sept. 29 letter, stating, “We have no reason to believe that your debt issuance fails to comply with any of the applicable tax requirements.”

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