Word: exemption
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Dates: during 1980-1989
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...found this requirement unconstitutional and enjoined its enforcement, the Supreme Court has now stayed that injunction. Thus, under regulations promulgated by the Department of Education, all students seeking and must file a statements indicating either that they have registered or that they are female, born before 1960, or otherwise exempt from the registration requirements. Unless they file such a statement, they many not receive federal scholarship grants, federally guaranteed or subsidized loans, or federally subsidized work study funds. Beginning with the 1985-86 academic year, students also will have to provide the University with documentary verification of their statements before...
...default had been expected for weeks, so the municipal bond market reacted quietly, with most prices holding fairly steady. But concern about Whoops' woes had been depressing the market for months. Public utilities building power plants have had to promise exceptionally high tax-exempt interest rates of more than 9% to sell new bonds. Several utilities, like North Carolina Municipal Power Agency No. 1, postponed their offerings to avoid testing the market. Some industry insiders fear that the continuing Whoops mess could ultimately sour investors on the entire spectrum of municipal bonds. Says James Lebenthal, whose appearances in television...
Defaults on tax-exempt municipal bonds like those issued on Whoops have been relatively infrequent and have usually involved smallish sums. Only 685 defaults have occurred since 1940, out of 301,016 municipal bond issues. In terms of money lost, each of the three largest were around one-twentieth the size of last week's fizzle. The West Virginia Turnpike Commission defaulted on $133 million in bonds in 1958. Chicago's Calumet Skyway collapsed under bond indebtedness of $101 million in 1963, and investors were short-changed in 1978 when the Chesapeake Bay Bridge and Tunnel Commission reneged...
...strengthened the search-and-seizure powers of law-enforcement officials and that permitted parents in Minnesota to take tax deductions for the costs of educating their children in religious schools. Liberals were equally pleased by reaffirmations of the 1973 freedom-of-choice abortion decision and the denial of tax-exempt status to private schools that practice racial discrimination...
...perennial area of controversy is the relations of the city with its university neighbors. Both Harvard and MIT are large landholders, but are tax exempt. They each make in-lieu-of-tax payments for the services the city provides, but Cambridge officials complain that the figures are far below what the tax base could bring in. Another sore spot is Harvard's role as landlord. The largest landlord in the city, the University's relations with tenants are sometimes strained, and some city officials complain that Harvard is unwilling to discuss the matter...