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- N.Y. Fed says municipal bond defaults higher than ratings agency counts
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2011-01-28 — bloomberg.com
"The IRS is auditing so-called dirt bonds sold in 2007 by the Stoneybrook South Community Development District, a special entity set up to finance infrastructure for a development by a unit of Lennar Corp. and a Florida partner, according to bond filings. The securities, backed by assessments on property owners, defaulted amid the real-estate crash."
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