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Abstract: 

This issue presents edited remarks from the Forum on Disclosure held in 1998 by the Municipal Securities Rulemaking Board. The Forum was a unique opportunity for representatives from various segments of the market to share their perspectives on the evolving nature of disclosure in the primary and secondary municipal markets. The Forum covers a broad range of disclosure issues, including the content, format, and timing of disclosures, their dissemination, the regulatory context, and examples from general obligation debt in the housing and health care markets—in all, the discussion takes up 108 pages of the issue. In addition to the MSRB forum, this issue showcases an innovative approach to airport financing handled by Phillip C. Allen of Broward County, Florida, who also serves as one of our editorial board members. Other key articles in this issue include a discussion by bond counsel Thomas K. Downs, in his professional responsibility column, of the impact of local ordinances that attempt to clarify conflicts of interest for attorneys. Accounting professor Catherine L. Staples reviews the latest developments from the Governmental Accounting Standards Board as it gets ready to adopt new financial reporting standards. And Paul Streckfus clarifies some of the latest items from his Washington tax law beat.

Keywords: Municipal Securities Rulemaking Board; Disclosure; NFMA Position Paper on 1994 Amendments to Rule 15C2-12; dissemination practices; convertible lien bonds; conflict of interest laws

Affiliations:  1: Wichita State University.