Comments on: MDUSD Bond Oversight Committee meeting is tonight

By: Manual

Manual — Sat, 21 Apr 2012 23:26:50 +0000

three.Feasibility: analysis about how sensible the requirements are in conditions of hard work, time, fees.

By: Theresa Harrington

Theresa Harrington — Fri, 06 Apr 2012 21:28:17 +0000

I have posted the complete proposal submitted to the board by a coalition that is urging increasing the Measure C bond tax rates to accelerate bond sales, lower overall costs and speed up construction: http://www.ibabuzz.com/onassignment/2012/04/06/a-closer-look-at-proposal-to-increase-bond-tax-rates-in-mdusd/

By: Theresa Harrington

Theresa Harrington — Thu, 05 Apr 2012 21:56:18 +0000

Brian Lawrence’s top priorities as the first candidate to announce (as far as I know) are: closing the achievement gap, financial accountability, transparency and staff: http://bit.ly/HTkUJv

By: g

Thu, 05 Apr 2012 21:03:29 +0000

Plus, then there is the $-unknown Cost of Redemption, which I don’t think is included in the Cost of Issuance.

By: g

Thu, 05 Apr 2012 21:01:15 +0000

Plus they’re being sold at premium (Alicia can explain that waayy better than I), but I look at it as up-front-out-the-door cost is $5,168,827.00 before we ever see a dime in savings (if there truly is any) over just leaving 2002 alone to be paid on the original schedule at the original rate.

By: Theresa Harrington

Theresa Harrington — Thu, 05 Apr 2012 20:41:02 +0000

Cost of issuance: $350,245.42 for “Payment of Underwriters’ discount, Bond and Disclosure Counsel fees, Special Tax Counsel fees, financial advisory fees, rating agency fees, escrow verification agent fee and other costs of issuance.”

By: g

Thu, 05 Apr 2012 20:38:15 +0000

Ooops, Last redemption on 2029, not 2026.

By: g

Thu, 05 Apr 2012 20:36:14 +0000

Alicia take a look at the Premium and Issue costs on this one. I’m surprised they didn’t release it on April 1st! Was there any mention of this being in the works at the last couple of meetings about excalating sales of the bonds?

Today they are issuing for sale the Refunding Bonds for 2002 Series B-2. $40,540.00. First redemption due 7/1–they must need cash NOW? Last redemption 2026.

http://emma.msrb.org/EP612484-EP479182-EP879590.pdf

I remember the board approving something like $22million a couple of months ago. I don’t remember $40.5million??

By: Alicia

Alicia — Thu, 05 Apr 2012 19:46:52 +0000

Theresa…I only asked for the CREB applications submitted to the IRS. Do you have copies of the QSCB applications?

By: g

Thu, 05 Apr 2012 17:09:55 +0000

Theresa, Having Chevron back our application for CREBS a year before Measure C went on a ballot, and lying to get QSCBs seemed to me to be a sure shot to get both the Feds and State to come ask for their money back.

I guess the District counts on both of them to be too busy playing politics to notice.

But I thought for sure the Grand Jury would notice.