Reviews provisions of the Tax Reform Act (1986) affecting schools that issue bonds, notes, or warrants. While interest on school financing will remain tax-exempt, school officials will need to master new concepts involving private agency bonds and arbitrage restrictions. Further erosion of schools' tax-exempt status is likely. (MLH)

Between 1983 and 1986, colleges and universities issued about $20 billion of debt for facilities and student financing, and it is predicted that billions of dollars of new debt will be needed for building renovation. Debt capacity, management, and accounting are now major issues, and the purpose of this book is to provide a handy reference manual…