WASHINGTON - A Chattanooga, Tenn., authority has reached agreements with the internal Revenue Service to settle tax disputes over three black box housing bond issues totaling $25.1 million that were sold in late 1985 by the now defunct Matthews & Wright Inc.

Under the agreements announced yesterday by the authority, the Health, Educational and Housing Facility Board of the City of Chattanooga, the IRS agreed not to tax bondholders' interest earnings from the $12 million Oak Crest Apartments issue, the $8.5 million Highland Apartments issue, and the $4.6 million Northgate Apartments issue.

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