Venice city abandons arbitrage plan for profit
City officials discard a proposed arbitrage scheme to borrow up to 3 million dollars and reinvest at higher rates to gain profits. City Assistant Attorney Wayne Hall says tax rules would block tax-exempt loans for profit. council pursues alternative financing to support a new utility project at the Venice municipal mobile home park.
MENTIONED IN THIS ARTICLE
Wayne Hall
Rccess
Dale Rieth
Rieth
Pennsylvania
Venice
Hall
Internal Revenue Service
Bill Kern
Venice Municipal Mobile Home Park
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