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City finance staff warn loss of tax-exempt municipal bonds could raise CIP costs about 20%
Summary
A city finance official said a federal move to eliminate the tax exemption on municipal bond interest would raise the cost of taxable bonds by roughly 20% for the bond-financed portion of Alexandria's CIP, a risk staff are monitoring with national finance groups.
A finance official on the call warned council that a federal policy shift eliminating the tax exemption for municipal bond interest would materially increase the cost of the city's bond-financed capital program.
Kendall (surname not provided on the record), introduced on the call as a finance official involved with national finance groups, said the municipal sector is "a lot of anxiety" about proposals that would remove tax-exemption for municipal bonds. Kendall told council the effect on local capital…
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