A bond, the interest on which is excludable from gross income for federal income tax purposes.
Code (Internal Revenue)
The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the Bonds.
Includes tax-exempt bonds, tax credit bonds and direct pay bonds.
An attorney or firm of attorneys engaged to render opinions on the federal and/or state tax exemption for tax-exempt bonds and those aspects of the transaction relating to whether the tax-exempt bonds qualify for federal tax exemption and, in some cases, state tax exemption.