BRADENTON, Fla. - Current debt management practices in Palm Beach County, Fla., have cost taxpayers as much as $5.38 million in extra interest and other expenses because of the way underwriters have been selected, the use of negotiation to sell bonds, and the purchasing of unnecessary bond insurance, according to Sharon Bock, the county's elected clerk and comptroller.

In issuing bonds, the wealthy gilt-edged county lacked "oversight, internal controls, and transparency necessary to best serve the interests of the taxpayers of Palm Beach County," Bock said in a 132-page document released Monday.

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