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CPE for FY 2003

Listed below is a series of articles of interest to the tax-advantaged bond community published in October 2002 as the Tax Exempt Bonds Continuing Professional Education (CPE) Technical Instruction Program for Fiscal Year 2003

These materials were designed specifically for training purposes only. Under no circumstances should the contents of these articles be used or cited as authority for setting or sustaining a technical position.

The freely available Adobe Acrobat Reader software is required to view, print and search these files.

Technical Topics:

Financial Products Used in the Tax-Exempt Bond Industry
A discussion of the structure of various financial products used in the industry and the reasons why an issuer or investor may enter into one or more transactions involving such structures.

The ABC's of School Funding
Insights into Qualified Public Education Facility Bonds, a new type of exempt facility bond created under section 422 of the Economic Growth and Tax Relief Reconciliation Act of 2001.

Procedures Applicable to Filing Forms and Recovering or Paying Rebate
A review of the regulations and revenue procedures applicable to filing and rebate requirements.

Best Practices:

Valuation of Government Securities - Yield Burning
A discussion of the valuation of the Treasury securities purchased for an advance refunding escrow and the effect an improper valuation may have on the tax-exempt status of the advance refunding issue.

Tax-Exempt Bond Returns
Highlights of the recent form changes made to the various tax-exempt bond returns.

Compliance Initiatives and Current Developments:

Three Year Notes - A Tale of Too Many Cities
This article is intended to raise awareness of small issuers (including, but not limited to, school districts) regarding abusive arbitrage transactions.

The SLGS Compliance Initiative: A Correspondence Examination Initiative of Advance Refunding Bonds
A review of the on-going efforts of the Internal Revenue Service to identify and resolve possible violations of the yield restriction and arbitrage rebate requirements under IRC section 148.

Current Developments
A summary of the most important pronouncements, procedures and legislation issued over the past year.

Page Last Reviewed or Updated: 29-Apr-2015