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Article: SEC issues two subpoenas in California bond inquiry.(Nevada County, California bonds)
- Article from:
- The Bond Buyer
- Article date:
- April 13, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Securities and Exchange Commission has subpoenaed the Nevada County, Calif., treasurer and a county analyst to testify about a Mello-Roos bond issue underwritten by San Francisco-based First California Capital Markets Group Inc.
Last year, SEC enforcement attorneys launched an informal inquiry into Nevada County's 1990 issuance of the Mello-Roos bonds, asking various participants in the transaction to voluntarily provide information about the now-defaulted bonds.
Sources said the subpoenaing of county employees indicates that the SEC has stepped up its probe by compelling witnesses to testify under oath, a commission procedure known as a formal order ...