SFGTV November 21, 2013
Same Redevelopment Agency and the redevelopment Financing Authority and with the automatic succession of these bonds, the ocii commission would be able to reconstitute the refinancing of this authority. The reason why the Financing Authority is a party to this contract because under the terms of various state guidelines it cannot do a negotiated sale but a Financing Authority can. If you want more explanation for the reason behind that, i can leave that to the attorneys. It has been the recommendation of the financial visors on this deal that a negotiated sale is necessary in order to get the ...