Tax-Exempt Bonds
A bond, the interest on which is excludable from gross income for federal income tax purposes.
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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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Commission
A form of remuneration received by a broker, dealer or dealer bank purchasing or selling bonds when acting as agent for a customer.