The Internal Revenue Service is auditing $20 million of Series A bonds issued in December 2005 by the City School District of Middletown in Orange County, N.Y. The audit was disclosed Monday in an event notice the issuer filed with the Municipal Securities Rulemaking Board’s online EMMA system.

Middletown said in the notice that the IRS sent the audit letter on March 21 and that it “appears to be a random audit and does not specify any particular concerns or violations.”

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