WASHINGTON - The Internal Revenue Service is conducting audits of $38.2 million of revenue bonds issued by Howard County, Md., for a continuing-care retirement community and $49.3 million of revenue bonds issued by the Tompkins County, N.Y., Industrial Development Agency for Ithaca College.

The audits were disclosed last week in material event notices filed with the nationally recognized municipal securities information repositories by the borrowers in the transactions.

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