The Internal Revenue Service is examining the Poway Unified School District’s controversial 2011 bond deal to determine whether it complies with federal tax requirements.
A Feb. 6 letter from IRS Agent Edna Diaz to the district states that Poway’s 2011 bond has been selected for examination. “The IRS routinely examines municipal debt issuances to determine compliance,” the letter states. Voice of San Diego received the document pursuant to a California Public Records Act request.
Diaz requested dozens of documents from the district, including detailed records of how the proceeds from the bonds were spent, who was paid in connection with the deal and who eventually bid on the bonds and bought them.