Bond deal for private Montgomery Bell Academy draws scrutiny

By Axios

A $50 million bond deal to pay for upgrades at the private boys' school Montgomery Bell Academy (MBA) is receiving pushback.State of play: MBA is seeking tax-exempt bonds through the Industrial Development Board (IDB). The deal would be privately financed through Pinnacle Bank.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeSuch tax-exempt bond deals are commonplace and legal under Tennessee law for nonprofit groups, including private schools,

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