......payment due for years and years!!
- (Hopefully the picture added will be clear enough to read.)
- So what does it all mean? Basically it means that the City seems to be less than forthright in the description of the Securities offered to investors
- Some may say.. "Well it is mentioned and printed below with clear warnings that all potential buyers should carefully read ALL of the document"... This is true and everyone should read all of it
- So lets see what it says about the "... the portion Refunding the 2003 Local Agency Revenue Bond..."
THE REFUNDING PROGRAM
- (PLEASE REFER TO PIC #2 ABOVE)
- On that amount of "Bonded debt per parcel".. Understand that is Principal only. You can multiply that amount from anywhere between 2.5 and 4.
WHERE IT COMES FROM AND GOES
- (PLEASE REFER TO PIC #3 AND #4 ABOVE)
.....NOW YOU TELL ME, IS THIS A REFUNDING BOND?
- all info from and more available "The Official Statement"
- http://emma.msrb.org/SecurityView/SecurityDetails.aspx?cusip=A88FA6DEABEF9923E53D3E5DC4B0BA410
