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New York

IRS OKs bonds for new stadiums

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The IRS on Wednesday gave approval to the city to issue $1.6 billion in bonds so the Yankees and the Mets can build new stadiums. The Yankees will get about $920 million in low-interest tax-exempt bonds and $25 million in taxable bonds. The Mets will get $528 million in tax-exempt bonds and $104 million in taxable bonds. more [NYDN]

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