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<br />. <br /> <br />- <br /> <br />~ <br /> <br />Knox W. Askins, Esq. <br />June 3, 1986 <br />Page 2 <br /> <br />As you may be aware, pollution control facilities will <br />not be eligible for bond funding under the new Tax Reform <br />Act. However , it appears that the Act is not likely to <br />become effective prior to some time this fall, and bonds <br />issued before that date will probably not be affected by <br />that Act. If in some unforeseen manner the bonds would be <br />affected, the only consequence would be that Dow might have <br />to redeem the bonds early. The reason pollution control <br />facilities have been taken out of the category of eligible <br />facilities remains somewhat of a mystery. There appears to <br />be no real quarrel with the purpose of such bonds, and thus <br />their exclusion from the eligible facilities list seems to <br />be strictly a revenue raising decision. <br /> <br />I appreciate your help on this matter. Please do not <br />hesitate to call me if you have any questions or comments or <br />if I can provide any additional information. <br /> <br />Sincerely, <br />- 7~ <br />c:=7.~ ~ (3J,.c1'Uft~ <br /> <br />~A. Thomassen <br /> <br />0492:2230 <br /> <br />Enclosures <br />