Private Use
As an issuer of tax-exempt debt, the university must comply with certain state and federal tax regulations. The Internal Revenue Code places strict limits on the amount of “private use” that can take place in facilities financed with tax-exempt debt.
Bond Compliance
The university recognizes that the IRS has stated that all issuers of tax exempt bonds and conduit borrowers like the university should have separate written procedures regarding ongoing compliance with the federal tax requirements for tax exempt bonds. As such, Bond Compliance Procedures has been adopted.
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