The tax-exempt status of $8.5 million of bonds issued by the Delaware River Port Authority in 2003 for the LEAP Academy University Charter School, Inc., could be in jeopardy because the Internal Revenue Service has revoked the charter school’s tax-exempt status.

The university disclosed the concerns about the charter school project bonds in an event notice filed with the Municipal Securities Rulemaking Board’s EMMA system on Jan. 16.

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