The freely available Adobe Acrobat Reader software is required to view, print, and search the rulings and memoranda listed below. Advance refundings: PLR200315012 (12/19/2003) PDF This is in response to your request for a ruling that a portion of a pooled bond issue, the proceeds of which are reasonably expected to be lent to one or more local government borrowers to refinance prior debt of that governmental borrower more than 90 days after the issue date of the pooled bond issue, can be treated as a separate issue for IRC section 149(d)(3)(A)(i), (ii) and (iii). FSA200229020 (04/11/2002) PDF Whether the Refunding Bonds are arbitrage bonds under section 148(a) of the Internal Revenue Code because an artifice or device was employed within the meaning of section 1.103-13(j). Whether the Refunding Bonds were issued in connection with a device employed to obtain a material financial advantage (based on arbitrage) apart from savings attributable to lower interest rates as described in section 149(d)(4) of the Code. PLR200139007 PDF This is in response to a request for a ruling that §149(d)(2) of the Internal Revenue Code does not preclude the exclusion from gross income under §103(a) of interest on bonds issued to advance refund taxable private activity bonds. PLR200037006 PDF Whether bonds issued in Year 2 are precluded from being treated as refunding bonds due to the reorganization in Year 1 of the conduit borrower under the prior bonds. Bonds must be registered to be tax exempt: PLR199914045 PDF This letter is in reply to a request for rulings that (1) use of the Facility to provide services to the federal government pursuant to research contracts (the "Research Contracts") with the Agencies, which are all federal agencies, will not constitute private business use within the meaning of § 141(b) or 145(a) of the Internal Revenue Code, and (2) payments by the federal government under the Research Contracts will not cause the Bonds to be federally guaranteed within the meaning of §149(b). Exceptions: PLR199904004 PDF What legal issues and facts should be considered in applying section 149(b)(4)(A) to exempt facility bonds, qualified small issue bonds and student loan bonds issued by the District of Columbia and U.S. possessions? Federally guaranteed bond not exempt: PLR200309003 (10/22/2002) PDF This is in response to your request on behalf of the Issuer for the following rules: The Organization's contracts with Agency 1 and Agency 2, both of which are agencies of the United States, will not result in private business use of the Facility (hereinafter defined) to be financed with the proceeds of the Bonds for purposes of IRC sections 141(b) and 145. Payments to the Organization under the contracts with Agency 1 and Agency 2 will not cause the Bonds to be federally guaranteed within the meaning of IRC section 149(b). FSA200030003 PDF Whether the issuance of bonds was structured in such a manner that it was expected that the credit enhancement provider would pay the debt service on the bonds rather than the issuer. FSA200023018 PDF Whether funds received from an agency of the United States to finance a public project that are, in turn, pledged to pay debt service on municipal obligations create an indirect federal guarantee.
