Code (Internal Revenue)

The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the Bonds.

See Also

Tax-Exempt Bonds

A bond, the interest on which is excludable from gross income for federal income tax purposes.

Special Tax Counsel

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.

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Blue Sky Laws

State securities laws, which regulate the offering of securities. Although these laws vary from state to state, most contain provisions concerning (a) prohibitions against fraud; (b) regulation of brokers and dealers doing business in the state; and (c) registration of Securities.