BRADENTON, Fla. — Miami will close out fiscal 2009 with a $53.6 million deficit and faces a projected deficit of $28 million by the end of the current fiscal year if actions are not taken to cut the budget, commissioners learned late last week.

While it is not clear if the revelation will force the Securities and Exchange Commission to take formal action, it had already begun an investigation into the city’s finances late last year, apparently to determine if Miami properly disclosed its financial condition to investors in bond documents.

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