IRS closes exam of Minneapolis-St. Paul airports' $381 million bonds

By Cristal Cody

Tupelo, Miss., Sept. 25 - The Internal Revenue Service closed its examination of Minneapolis-St. Paul Metropolitan Airports Commission's $381 million in series 2005 subordinate revenue and revenue refunding bonds with no change to the policy to exclude the interest from gross income, according to a notice from the commission.

The IRS sent a letter in April to notify the commission that the series 2008A and 2008B revenue bonds and 2008C revenue refunding bonds had been selected for examination.

The IRS said in a letter released Wednesday by the commission that the examination was completed with no changes to the interest policy.

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