The Westmoreland County, Pa., Municipal Authority publicly announced late Wednesday that it has reached a closing agreement with the Internal Revenue Service to retain the tax-exempt status of about $20 million of zero-coupon advance refunding bonds that were issued in 1995.

The agreement, which the authority disclosed in a material event notice sent to the nationally recognized municipal securities information repositories, was reached on June 17 after the authority was unsuccessful in appealing an IRS proposed determination that the bonds were taxable.

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