Downtown Parking Ramp Bonds sold in the dark of the night

So I guess the bonds sold last week at 3.5% interest rate. While the rate isn’t bad, I’m curious why there was NO announcement of the sale. Could it be with all the controversy surrounding Legacy and the pending lawsuits they didn’t want to draw anymore attention to it?

Also remember that the 2nd Penny, CIP road fund is being used as collateral. While they ‘claim’ they will never have to dip into this fund to make payments, some would speculate that is not the case, and the specific reason why that fund is being used as collateral. The enterprise fund for parking isn’t very big, and I can’t imagine they will be able to make that big of a mortgage payment and still be able to maintain salaries and maintenance without either dipping into the CIP or raising fess drastically.

We got duped on many levels with the DT Parking Ramp.



4 comments ↓

#1 D@ily Spin on 05.01.18 at 7:30 pm

Huether’s last public funds heist? I suspected there would be more big money debt as the credit card dictator exits.

#2 The Guy from Guernsey on 05.02.18 at 7:36 am

I would have thought HisManMike could round up the old squad for one more press conference.

#3 The Guy from Guernsey on 05.02.18 at 8:28 am

What was the maturity date of the bonds which were sold ?

#4 l3wis on 05.02.18 at 9:12 am

Great question, but Mr. Secrets stuck up his ass hasn’t told anybody anything.