Moynihan: No Need To Restructure Wastewater Plant Loan
On February 5, 2010, Bryant Moynihan, Coordinator, Petalumans for Fair Utility Rates (PFUR) sent an e-mail expanding on his comment to We’re in Deep Doo Doo–City may miss August debt payment…
The full text of Moynihan’s e-mail and a reproduction of the attachment may be found at PFUR Challenges Need For Loan Restructuring
The e-mail disputes the need to restructure the wastewater plant loans as described in the City Manager’s letter to the banks.
After reading the e-mail and attachment, one reader commented: “I don’t think I will vote in November for the rollback initiative, but I do want to hear the City respond to B. Moynihan’s February 5 email. He claims the City can pay off the private bank LOC’s with the State of CA revolving fund monies– effectively consolidating all the debt into one loan at 2.4 percent owed to the State of California. Why can’t the City do this– pay off the higher interest LOC amounts using the funds from the lower interest 2.4 percent State of CA loan?” See ALERT! City May Miss Debt Payment On Wastewater Plant…
NOTE–I apologize to readers for not being able to include the above documents on this site, however technical issues prevent me from doing so.
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