Last night Council considered a very complex financial transaction that essentially "tenders" 30% of the pre-pay natural gas contracts we agreed to with Merrill Lynch.
Doing so will return about 25 million to the Gas and Oil Department. More importantly it will not increase the cost to the consumer.
In the memo to the Council was a proposal to use some of these new funds to pay for the relocation of the Public Service Yard which is a necessary component of the proposed wetlands and land swap. The council approved my motion that removed that provision so that any additional funds from the tendering of 30% of the bonds will go to the General Fund and not to pay to move the Public Service Yard -- which we can wait to do until we are financially solvent.
Notice: This is not a City of Long Beach site.
Dear Readers: Please note that this is not a City of Long Beach website and is not paid for nor maintained by taxpayer funds.
If you contact Gerrie Schipske through this site on any matter pertaining to the City of Long Beach, a copy of your contact will be forwarded to her official city email as an official public record.
Wednesday, July 8, 2009
Save Station 18
Popular Posts
-
Friday Newsletter Final
-
Developing story...in my quest to find out why anyone would design a courthouse, win the bid but not include an important element in the d...
-
City council passed my agenda item in February directing the City Manager to apply for federal designation as a potential manufacturing ar...
-
Thanks so much to all the readers who contacted the Long Beach Chamber of Commerce, urging them to help recruit Tesla Motors to Long Beach. ...
-
Bembridge House in Long Beach January 24, 2014 – Hoping to bring a tax savings in Long Beach to those who own historical properties, ...
-
I have been pushing to open up the collective bargaining process in Long Beach for several years but found little interest on the City Counc...
-
Sorry to say that the Long Beach Unified School District could not find anyone to attend the community meeting held last night to discuss th...
-
978 people have responded to the survey on placement of medical marijuana collectives. Of these, 471 have indicated they are residents of th...
-
Government transparency is the cornerstone of democracy. As such, it is our collective responsibility to protect our right to a governm...
-
Write text here... Related articles Schipske Launches NEXTDOOR -- a Social Network for 5th District Residents Nextdoor.com Brings Social ...