Phoenix Part XXXI: I feel I'm in a time loop
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03-28-2011, 07:55 AM
Join Date: May 2010
Originally Posted by
The last city council vote was only 4:3 in favour, and perhaps there is at least one councilor who feels that anything above 6% or 7% on the bonds is too high.
They have already approved up to 9% so there will be no need to go back to council. If they want to close at 9% they have already been approved.
This has been repeated quite often, but I have never seen this "approval up to 9%" on the public record. The original motion (December 14, 2010) did not specify a limit, and there was no mention of this in the minutes from the subsequent meeting approving the amendment to the lease. Could you or someone else please cite a source to validate this assertion that there is already an approval from city council up to 9% on the bonds?
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