Miami misled investors over city’s financial health.
“We keep paying for the sins of the past.” - Miami Mayor Tomás Regalado.
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Category:
Miami
Tags: Worthless Bonds and we don't mean Barry
The SEC investigation that is wrapping up dates back to 2009, when The Miami Herald found that city financial officials had moved $26.4 million from the capital budget into the general fund. The move gave the appearance of a balanced budget immediately before a bond issue needed to finance improvements to city streets and sidewalks.
