• CLE Eligible

The Institute 2023 Agenda & Materials

The Westin Kierland Resort & Spa, Scottsdale, AZ March 9-10, 2023

Remedial Action

Action taken by the issuer to address events that occur after closing that could impair the tax status of tax-exempt bonds.


The deemed new issuance of outstanding tax-exempt bonds for federal tax purposes under Section 1001 of the Code and Treasury Regulations Section 1.1001-3 as a result of certain changes to…


Use of bond proceeds to pay project costs prior to the issuance of bonds. Reimbursement raises questions related to whether the reimbursement qualifies as an expenditure of tax-exempt bond proceeds…

120% Rule

Rule outlined in Section 147(b) of the code that states private activity bonds are not tax-exempt bonds if the weighted average maturity of the bond issue exceeds 120% of the…

Exempt Facility Bonds

Type of private activity bond (PAB) permitted to be issued as a tax-exempt bond under Section 142 of the code for the purpose of funding many categories of exempt facilities.

Financial Industry Regulatory Authority (“FINRA”)

A non-governmental entity that oversees and regulates a portion of the federal securities industry.

Securities and Exchange Commission (SEC)

Federal agency that oversees and regulates the securities industry and aims “to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation.”


The process of designating bonds with a letter and a number per procedures outlined in a bond’s indenture or bond resolution.

Tax Increment Financing (“TIF”) Bonds

Bonds are special obligations secured by incremental increases in tax revenues paid by users of developed property or by general increases in taxable values within a designated tax increment area.

Certificate of Participation (“COP”)

Financing that allows an investor to purchase a participation interest in a stream of payments generated by a lease, installment sale agreement or other governmental obligation.

General Obligation Bond Payable from General Fund (“GFGO”)

A type of general obligation (GO) bond not secured by a specific pledge of taxing power, and in which the issuer cannot be compelled to increase taxes.