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[PDF File]MEMORANDUM USE OF TAX-EXEMPT BOND PROCEEDS TO REIMBURSE ...
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USE OF TAX-EXEMPT BOND PROCEEDS . TO REIMBURSE PRIOR CAPITAL EXPENDITURES. March 1, 2012 . I. Introduction, Scope and Effective Date . Proceeds of a tax-exempt bond issue are subject to arbitrage yield restrictions, arbitrage rebate requirements and other limitations under the Internal Revenue Code of 1986, as amended (the “Code”).

[PDF File]Tax-Exempt Bonds: A Quick Guide to Yield Restriction and ...
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requirements with respect to the investment and use of proceeds, as well as the use of the bond-financed facilities. Section 148 of the Internal Revenue Code of 1986, as amended (the “Code”), limits the Issuer’s ability to exploit the difference between tax-exempt and taxable interest rates, also known as arbitrage.

[PDF File]USAA State Tax Exempt Bond Funds Direct Member Commentary
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USAA California Bond Fund // USAA New YorkBond Fund // USAA Virginia Bond Fund. STATE TAX EXEMPT BOND FUNDS. QUARTERLY COMMENTARY . As of June 30, 2021 . Not FDIC Insured • May Lose Value • No Bank Guarantee . 1. Market Review & Outlook. In the second quarter of 2021, spreads in the muni market tightened closer to pre-pandemic levels ...

[PDF File]The Basics of Tax-Exempt Bond Financing - CDFA
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Tax-Exempt Bond Financing Presented by: Michael Dow www.mcguirewoods.com. 1. Types of Bonds 2. Structural Options 3. Approval Process 4. Federal Tax Law Considerations 5. Securities Law Considerations. Tax-Exempt Bonds • Obligations of state and political subdivisions the

[PDF File]Tax-exempt interest dividends by state for Vanguard ...
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Tax-exempt interest dividends by state for Vanguard municipal bond funds and Vanguard Tax-Managed Balanced Fund Important tax information for 2020 This tax update provides information to help you report earnings by state from any of your Vanguard municipal bond funds and Vanguard Tax-Managed Balanced Fund on your year-end tax returns.

[PDF File]Module A Introduction to Tax-Exempt Bonds Overview
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tax-exempt bond proceeds. It also required that municipal bonds must meet certain additional rules for the interest received by the bondholders to be exempt from federal income tax. IRC § 103(a) is the statutory provision that excludes interest on municipal

[PDF File]USAA State Tax Exempt Bond Funds Commentary
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USAA California Bond Fund // USAA New YorkBond Fund // USAA Virginia Bond Fund. STATE TAX EXEMPT BOND FUNDS. QUARTERLY COMMENTARY . As of June 30, 2021 . Not FDIC Insured • May Lose Value • No Bank Guarantee . 1. Market Review & Outlook. In the second quarter of 2021, spreads in the muni market tightened closer to pre-pandemic levels ...

[PDF File]Vanguard Pennsylvania Long-Term Tax-Exempt Fund
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Tax-Exempt Fund returned 5.45% for Investor Shares and 5.53% for Admiral Shares.The fund slightly outperformed its benchmark, the Bloomberg Barclays PA Municipal Bond Index, which returned 5.30%. As municipal bond prices rose, yields declined. For the 12 months, the fund’s 30-day SEC yield fell 52 basis points to 1.63% for Admiral Shares. (A ...

[PDF File]Tax-Exempt Bonds: Considerations for College and ...
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Since tax-exempt debt results in a significant economic benefit (in the form of lower interest rates) to the institution issuing bonds, there are numerous restrictions on the uses of bond proceeds, how earnings on the proceeds may be invested, what may be financed

[PDF File]DUPREE MUTUAL FUNDS TAX-EXEMPT MUNICIPAL BOND FUNDS ...
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As stated in our Prospectus, the investment objective for our eight single state tax-exempt municipal bond Funds is to realize a high and stable level of tax-exempt income as determined by a shareholder’s state of residence without 1. incurring undue risk to principal. In general, interest income derived from municipal bonds is exempt from ...

[PDF File]Vanguard CaliforniaTax-Exempt Funds
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Yields for tax-exempt money market instruments also fell, and the fund’s 7-day SEC yield declined 89 basis points to 0.01%. Please note that the funds are permitted to invest in securities that would generate income distributions subject to the alternative minimum tax (AMT). During the fiscal year, only the Money Market Fund owned such ...

[PDF File]Tax Exempt Bond Memo - CDFA
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TAX-EXEMPT FINANCING I. INTRODUCTION Tax-exempt financing is a financing tool available to eligible borrowers as a means of raising funds for capital needs. II. THE BASICS A. What is a tax-exempt bond? A tax-exempt bond is an obligation of a state or political subdivision the interest on which is exempt from federal income taxation.

[PDF File]Vanguard Municipal Bond Funds
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2020,Vanguard’s five national tax-exempt bond funds posted returns that ranged from 1.86% for Investor Shares of Vanguard Short-TermTax-Exempt Fund to 4.14% for Admiral Shares ofVanguard Long-TermTax-Exempt Fund. All of the funds posted returns roughly in line with or better than their expense-free benchmarks with the exception of

Tax exempt bond funds