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Everyones recollection in 2007, proposition a allowed us to issue Revenue Bonds at this time. Both you and the board of supervisors have to authorize the issuance and the controller has to certify that we have the Financial Capacity to pay the annual debt service. In 2012 we issued our first Revenue Bonds and got our first set of ratings which were split. Moody was a a and single a and we had a former policy to issue our Revenue Bonds for state of good repair projects of primarily and to fund gaps where they werent available. So, our state of good repair needs are quite significant as im sure ...

First criteria was to fix the gap, the 2012 Revenue Bonds wechlt looked at the projects with 5 years, we looked at the program that had data good repair shortfalls and make sure they align with the Strategic Plan and the strategies and we looked at the bond asset requirements in terms of the asset life running 30 million, the project timeline would have to be within 36 months and the cash flows and the ability offset to free up other funds. So, this is the 150 million that we are proposed for 2013 bonds. Once again, 90 million is going to transit, 14 million going to bike program, 30 million t...

From the residents. And those are already sort of lower incomes for my question, and my question is, does the section 8 project credit, does that have a negative impact on what we get for residual receipts. I dont know if i am making any sense here. You actually are. And no, it does not actually have a negative impact and as a matter of fact, because, the project based section eight, at least right now, are, they are higher than we would want to get and what we would want to charge. And then, actually, it is actually cash flowing well. And so, there is cash flow or surplus cash, residual recei...

Million in Revenue Bonds. Depending on the market this will probably come down. We are asking your approval related today bond financing. Let me go through a quick presentation on the overhead. So, this is for quick, everyones recollection in 2007, proposition a allowed us to issue Revenue Bonds at this time. Both you and the board of supervisors have to authorize the issuance and the controller has to certify that we have the Financial Capacity to pay the annual debt service. In 2012 we issued our first Revenue Bonds and got our first set of ratings which were split. Moody was a a and single ...

Look at proposed expenditures for what is called a recognized payment schedule or the ropses. A number of these have been approved by the over site board over the fiduciary obligations and ultimately the state department of finance has the final say and this is an informational presentation and no action today, but we will come back to you prior to final action, by the over site board and with that, the deputy director, will present this item. Good afternoon commissioners, my pleasure to be before you once again, with the recognized obligation payment schedule, and director mentioned that this...