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Government

New Debt Extinguishment Guidance Proposed for Governmental Entities

State and local governments could soon have new guidance when extinguishing debt in advance of its maturity date. The Governmental Accounting Standards Board has issued the Exposure Draft, Certain Debt Extinguishment Issues, which addresses transactions where existing resources are left in a trust for extinguishing debt. Stakeholders and others can submit comments on the Exposure Draft until Friday, October 28.

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