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Date Posted: Friday, September11, 02:37:pm
Author: BJ (another version)
Subject: Re: Marge Bell Doesn't Want You to Know
In reply to: Marie Antoniette 's message, "Re: Marge Bell Doesn't Want You to Know" on Friday, September11, 12:20:pm

I think we are playing TELEPHONE!
Was the issue whether we should go along with Mr. Bond’s suggestion to go along with the strategy of moving ahead with BAN’S (Bond Anticipation Notes ) to clear the way for re-floating the series of Bonds previously floated but NO takers. They are looking to buy time with the working fund by using what is in the general fund, approximately 1.8 million, to meet payroll and other must pay bills. It was very difficult to hear them; they refused to speak up when discussing things I do not think they really wanted us to hear.
The remark Marge Bell made with regard to a public hearing was very confusing. Was it to discuss how the city would meet payroll? I do not think so; the CM already said the working fund would suffice until 12-31-09. It appeared that a public hearing was intended to precede a vote to use the Ken Bond proposal to fast track notes, or to ask the state to come in and save the day! Which Valentine was not supportive of that alternative. Mr. Bond kept up the hard sell to use the firm on short-term notes. The obvious question is WHY? We did it before and survived, why not now?

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