ABCs of arbitrage: tax rules for investment of bond proceeds by municipalities
Urban, State, and Local Government Law Section, American Bar Association, 1990 - Business & Economics - 336 pages
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Imputed Receipts and the Market Price Rule
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accrued interest acquired obligations allocated amount apply arbitrage bond bona fide debt bond proceeds bond yield bonds issued compounding interval date of issue debt service fund demand deposit determined early retirement value Example excess proceeds fide debt service final computation date financing fixed rate bonds fixed yield bonds fixed yield issue governmental obligations gross proceeds interest rate Internal Revenue Code Internal Revenue Service investment proceeds issuance issue payments issuer June 14 letter of credit ment million nonpurpose investments nonpurpose obligations original proceeds outstanding paid portion present value prior issue purpose investment reasonably required reserve rebatable arbitrage rebate regulations refunding bonds refunding issue replacement fund reserve fund reserve or replacement retirement price series B issue sinking fund SLGs special rules student loans subparagraph taken into account tax-exempt bond temporary period tender bond term tion transferred proceeds transition rule treated variable yield bond variable yield issue yield period yield restrictions