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A TEFRA hearing is a a bond issuer’s public notice, public hearing and approval by elected officials of a bond issuance.
It is a public inquiry required by the Internal Revenue Service of non-profit borrowers that intend to issue tax-exempt debt. The TEFRA hearing provides the public an opportunity to comment on the use of tax-exempt bond proceeds by the specific borrowing institution to finance their capital needs. Following the public hearing, the Treasurer executes an approval certificate for the financing under the TEFRA rules.
