Is Mayor Huether proposing to re-finance the entertainment bonds with 2nd Penny revenue?
l3wis Kind of looks that way (Item #5, Ord. 1209)
The entertainment bonds will be paid off in 2013, with $1 million due at the beginning of 2014. Â If the new ordinance passes it would change all that. Like I have said before, Huether is looking to scrounge up money for the new Events Center.
CIP money is tight lately, so instead of using that money directly it makes more sense to Huether to use the money for bond payments. If you have been paying attention lately, you will see Huether has been bragging up and down about our good bond rating, and he sees an opportunity.
