Tax-Exempt Bonds
A bond, the interest on which is excludable from gross income for federal income tax purposes.
bond-basics
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-Advantaged Bonds
Includes tax-exempt bonds, tax credit bonds and direct pay bonds.
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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SEC Rule 15c2-12
Rule promulgated under the 1934 Exchange Act and adopted by the SEC in 1989 to establish standards for the procurement and dissemination of disclosure documents by underwriters as a means of enhancing the accuracy and timeliness of disclosure to municipal securities investors.