Local Officials Blast IRS Proposal
Rigsby, Deborah, Nation's Cities Weekly
Officials at the Internal Revenue Service (IRS) heard numerous objections last week to a proposed rule to restrict municipal prepayments for public service resources.
If finalized, this rule would ban municipal prepayments for public service resources such as natural gas. At a January 12 public hearing, municipal officials and public gas systems officials reiterated that cities and towns are not issuing tax-exempt bonds to purchase long-term supplies of natural gas or other commodities as an investment-type property to abuse arbitrage and related restrictions.
"I am simply trying to provide the most reliable and economical gas supply to my citizens," said Mayor …
The rest of this article is only available to active members of Questia
Sign up now for a free, 1-day trial and receive full access to:
- Questia's entire collection
- Automatic bibliography creation
- More helpful research tools like notes, citations, and highlights
- Ad-free environment
Already a member? Log in now.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Article title: Local Officials Blast IRS Proposal.
Contributors: Rigsby, Deborah - Author.
Magazine title: Nation's Cities Weekly.
Volume: 23.
Issue: 2
Publication date: January 17, 2000.
Page number: 2.
© 2009 National League of Cities.
COPYRIGHT 2000 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
One moment ...
- Georgia
- Arial
- Times New Roman
- Verdana
- Courier/monospaced
Reset