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Securities

Apr. 9, 1999

Settlement Reached in Municipal Bond Case

SAN FRANCISCO - Local municipalities signing to dubious development projects and well-heeled municipal bond underwriters that entice investors with risky, unrated development bonds have been sent a message by the Securities and Exchange Commission that it won't put up with "this kind of nonsense."

By Pamela A. MacLean
Daily Journal Staff Writer
        SAN FRANCISCO - Local municipalities signing to dubious development projects and well-heeled municipal bond underwriters that entice investors with risky, unrated development bonds have been sent a message by the Securities and Exchange Commission that it won't put up with "this kind of nonsense."

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