The 1998 edition of ABCs of Arbitrage has been revised and expanded chapter-by-chapter to reflect the new legislation, regulations, rulings and other published authorities through January 1, 1998. This comprehensive guide translates complex issues into concise, user-friendly language to help you understand the basic and most complicated aspects of arbitrage. The ABCs of Arbitrage will help you understand the rules of arbitrage, the relevant IRS code sections and regulations and the technical and colloquial terms used in this practice. It represents a significant advancement over the standard IRS code/regulation format taken by most treatises in this field. This invaluable resource provides you with practical advice on: arbitrage rules applicable to the various fund models, including project funds, reserve funds, revenue funds, and debt service funds what constitutes the "spending" of the proceeds of a bond issue the determination of yield in various aspects rules applicable to investment of amounts in these funds and expenditures the different restrictions applying to purpose and nonpurpose investments understanding complex replacement proceed rules problems of general application, such as abusive devices, computation of yield and rebate, arbitrage certificates and the possibility of "electing into" the 1993 regulations on arbitrage. An Indispensable and Practical Resource--Including the Most Recent Regulations The 1998 edition of ABCs of Arbitrage is an essential guide for any bond attorney, bond dealer, or public finance official. Dozens of planning pointers provide you with an added advantage to understanding and comprehending arbitrage and the current regulations. A compilation of regulations-- including the May 1997 regulations- provides you with explanations of how the regulations affect a variety of cases and situations. In addition, this book serves as an excellent primer for any attorney training in this highly complex area of municipal bond law.