HERNADO, Miss. (AP) - The DeSoto County Board of Supervisors will consider enrolling in a federal initiative that encourages self-reporting of inaccurate disclosures in prior bond offerings.
The board will consider signing up for the nationwide bond disclosure initiative of the federal Securities and Exchange Commission during a special meeting on Tuesday.
Bonds are a common funding mechanism for governmental entities.
Supervisor Bill Russell of Walls tells The Commercial Appeal (http://bit.ly/1zjeRVS ) the SEC has set a deadline of Dec. 1 for bond issuers to agree to participate in the Municipalities Continuing Disclosure Cooperation initiative.
The program allows issuers, including counties, to get favorable settlement terms if they voluntarily report any failures to make accurate continuing disclosures regarding bonds issued in the last five years.
Information from: The Commercial Appeal, http://ift.tt/12zhHdI
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