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t ~ \~ • • r 13. Issuance of a partnership interest in tax-free exchar_ge under Section 721 of the Code for property, at least where the partner purchased the property more than 3 years before the issuance of the bonds. Rev. Rut. 77- 146, 1977-1 C.B. 24. 14. A cash purchase of a partnership interest. LTR 8316023 (9.99% interest in joint venture); LTR 8320025 (49,0 limited partnership interest if r_o plan to licuidate partrership). 15. If the present owner purchased the facility within the six-year period, the purcase price is a capital expenditure but the prior owner's capital expenditures with respect to the facility may be disregarded to the extent they are reflected in the purchase price. Rev. Rul. 70-427, 1976-2 C.B. 28; LTR 79102 1. See LTR 8017077; LTR 8239051. 16. Cost to rep'_ace property damaged or destroyed by fire, storm, or other casualty to t~.e exte_^.t not in excess of the fair market value (determined is,.:~ediately before the casualty) of the property replaced. IRC § 103(b) (6)(c)(~)(i); Treas. Reg. § 1.103-10(b)(2)(iv)(c); LTR 8124151. 17. Expenditure by a Section 501(c)(3) charitable orcar_iza- tion for charitable activities are not capital extendi- tures for purposes of a related person's small issue financing of an unrelated facility. Rev. Rul. 74-289, 1974-1 C.B. 32. See LTR 8011062. 18. Expenditures by a state or local gover^^ental unit paid or incurred in carrying out its sta~utory purposes are not capital expenditures for purposes o_` a small issue financing of an unrelated facility. LTR 8012090; LTR 8317083 (computer unrelated to building in which it is used). 19. Expenditures by a public utility which is not the principal user of the bond-financed facility with respect to property of such compare or by a State or local governmen*_al unit wit h respect ~o ..:e prop erty of such unit, if the following ce^~i;.'_ons are me;.: ( i ) Such property is used to rovi~e cas, wager, sewage disposal services, elect__c energy, or telechore -1C-