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Bonding Authorized for Ithaca College Bond Refinance

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Bonding Authorized for Ithaca College Bond Refinance

Tuesday, October 17, 2017

The Legislature, by unanimous vote, authorized the Tompkins County Development Corporation to issue up to $26,500,000 in tax-exempt revenue bonds on behalf of Ithaca College, refinance bonds issued for a project in 2011. The Legislature’s action qualifies the interest payable on the bonds as tax-exempt under the federal Internal Revenue Code and does not involve any financial obligation on the part of Tompkins County.