BRADENTON, Fla. — The nonprofit Raymond F. Kravis Center for the Performing Arts Inc. in Palm Beach County, Fla., has paid $320,000 to the Internal Revenue Service to settle a violation of the Internal Revenue Code’s 5% limit on private use in a bond-financed facility.

The violation concerned a private vendor’s use of a ballroom built with a portion of the proceeds of $41.5 million of tax-exempt variable-rate demand revenue bonds that were sold on behalf of Kravis in 2002. Palm Beach County was the conduit issuer.

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