WASHINGTON - Two local housing authorities in Virginia have reached agreements with the Internal Revenue Service to settle tax disputes over four Apple Creek black box bond issues sold in late 1985.

Under the separate agreements, which were announced late Friday by the Newport News and Hampton redevelopment and housing authorities, the IRS agreed not to tax the interest earnings from the $10.3 million Apple Creek I bond issue, the $10 million Apple Creek II issue, the $6.7 million Apple Creek of Hampton issue, and the $7.4 million Apple Creek of Virginia Beach issue.

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