The policy of the Internal Revenue Code is to permit bonds issued by municipal governments for public purposes to bear tax exempt interest, and not to permit tax exemption where the bonds are issued primarily to be reinvested to take advantage of the spread between taxable and non-taxable interest rates.

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Prepare for the Rutgers Municipal Capital and Trust Fund Accounting Test. Use our study guide with flashcards and multiple choice questions. Each question provides hints and explanations for clearer understanding. Ensure your success on the test with our comprehensive resources!

Multiple Choice

The policy of the Internal Revenue Code is to permit bonds issued by municipal governments for public purposes to bear tax exempt interest, and not to permit tax exemption where the bonds are issued primarily to be reinvested to take advantage of the spread between taxable and non-taxable interest rates.

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