Miami Lowers Borrowing Costs as Latin-America Hub: Muni Credit
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Miami, the Latin-American base for companies such as Harley-Davidson Inc., is set to lower its borrowing costs after posting a budget surplus five times greater than expected amid a real-estate revival.
Florida’s second-biggest city, where median condominium prices leaped almost 25 percent in October, is selling $50 million of tax-exempt bonds as soon as this week under the cloud of a U.S. Securities & Exchange Commission investigation. The agency is looking into possible fraud related to the disclosure of financial information dating to fiscal 2007 and 2008.