Word: exempted
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...corporations. Now financially pinched private universities are catching on. Chicago's Roman Catholic Loyola University has become the first such institution to raise cash by issuing lOUs in the crackling-hot short-term money market. Needing building funds, Loyola issued a total of $53.5 million in tax-exempt corporate paper for terms ranging from 15 to 93 days at an average interest cost of 3.86%. Loyola intends to keep reissuing the paper until long-term interest rates (now as high as 9½% for 30 year tax-exempts) decline...
Several developers within the last month have claimed that the cooperatives, in which tenants buy shares of the building, are exempt under state law from rent control and hence from the removal ordinance...
...York City, where they have made extensive real estate investments in recent years. The vigilant town fathers of Gloucester hope to find a way of revoking the purchase of the retreat house on legal technicalities, and are ready to fight the church if it tries to get tax-exempt status for its property...
...billion-a-year leviathan, the agency produced some startlingly ludicrous anomalies. Agricultural haulers, for example, could carry milk but not yogurt or ice cream; truckers could move grain from farm to market but could not take animal feed back in their empty trucks. Reason: both milk and grain were exempt from ICC regulation as unprocessed commodities, whereas yogurt, ice cream and animal feed were regulated...
Some in the city blame Harvard and MIT for much of the housing squeeze, pointing to the universities' insatiable hunger for land and continuing expansion. Nearly 58 per cent of all property in the city is tax-exempt, and the tally grows larger every year, a report released by city officials a month ago shows...