BRADENTON, Fla. – Moody’s Investors Service said a recent Internal Revenue Service memorandum that affects the tax-exempt status of the Village Center Community Development District in Florida will not impact the agency’s ratings on 134 CDDs and special-purpose districts.

The IRS, in a technical advice memorandum, said that the Village Center CDD is not a political subdivision pursuant to IRS Code, making it ineligible to issue tax-exempt bonds. Moody’s does not rate the Village Center.

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