tag:blogger.com,1999:blog-12703782.post9185388534463724365..comments2020-04-11T03:30:02.282-05:00Gary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-12703782.post-75289235926039278492010-06-10T04:08:37.425-05:002010-06-10T04:08:37.425-05:00I am an auction lover. So every news related to the auction makes me very happy. Thanks for keeping us updated.<br /><br /><br /><a href="http://www.bidchargers.com" rel="nofollow">Penny Auction Online</a>Playboyhttps://www.blogger.com/profile/09964883003521864739noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-67679058894815698812008-02-24T09:08:00.000-05:002008-02-24T09:08:00.000-05:00A bond is a loan. It's a debt. What we have with Lucas Stadium is simply one helluva HUGE MORTGAGE. That HUGE MORTGAGE is for the same term as most of our own home mortgages, 30 years.<BR/>The real kicker is that the idiots who contracted this HUGE MORTGAGE did so using a horrible VARIABLE RATE interest plan.<BR/>Well, we all know what's happened with foreclosures on home mortgages due to variable interest rates but I'm afraid the bond holder's on the Lucas mortgage won't ever need to forclose. They just look to the taxpayers to pay additional taxes to make up for the increased cost of that HUGE MORTGAGE.<BR/>They may be able to refinance but it isn't going to be easy with tightening credit worldwide. In the end, we will pay upwards of $1.5 billion or more FOR 30 YEARS, during which time, the city of Indianapolis could very well go bankrupt. Correction: You and I go bankrupt, cities default.<BR/>The shame of it all is that the people who cut this deal for Lucas Stadium will probably all be dead before this damn HUGE MORTGAGE is ever paid off.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-48156504286841916112008-02-24T07:56:00.000-05:002008-02-24T07:56:00.000-05:00<B>The CIB still has to figure out how to come up with the more than $10 million it will take annually to operate and maintain Lucas Oil Stadium once it opens up later this year, a small matter overlooked by the Peterson administration. Anyone heard what Bob Grand's plan is to fix that problem?</B><BR/><BR/>The Ir$ay Property Tax Levy. It will _only_ be for Marion County this time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-28874403988796642552008-02-23T22:49:00.000-05:002008-02-23T22:49:00.000-05:0011:05,I'm with you when you're right, and I'm with you in spirit on this one, but...<BR/><BR/>A casual read of the Constitution will tell you, our framers didn't know AV from V-8.<BR/><BR/>Would that they could've.<BR/><BR/>Aren't we all thrilled the dutiful governor rescued our experienced Capitol Improvement Board, with the services of a no-tenure group of folks called the Stadium Authority or solme such nonsense? <BR/><BR/>Love or loathe the CIB, they've got multi-decade experience in financing large and important public projects.<BR/><BR/>In these tricky capital markets, a reasoned mind might be helpful.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-34076066920880014702008-02-23T21:16:00.000-05:002008-02-23T21:16:00.000-05:00It comes from a recent spectacular gaffe by our Accidental Mayor as reported by Matt Tully in the Indpls Star:<BR/>http://tinyurl.com/39a584Wilson46201https://www.blogger.com/profile/14214029150233485312noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-63569579026806478022008-02-23T20:34:00.000-05:002008-02-23T20:34:00.000-05:00I have had several friends make comments about playing cricket matches in Indy and now there is a comment here. People in Indiana dont play cricket and dont know anything about it...why is there all of this sudden interest in cricket?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-57748819161549020442008-02-23T12:51:00.000-05:002008-02-23T12:51:00.000-05:00The big problem with these bond issues is the enormous fees that the attorney's and the issuers of the bonds collect in fees. I would truly like to see a line item audit of the billing that ends up being picked up by the taxpayer. If the mayor truly wanted to find the fat in the budget just start auditing all of the bond issuers and attorney fees that the city pays through out the year. I know and have talked to many of the people in the legal profession and they have stated that city and state contracts are the easiest to over bill since no one in government has the expertise or time to really take a good look at the billing process.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-57190373599276667082008-02-23T12:22:00.000-05:002008-02-23T12:22:00.000-05:00Amazing how no one is highlighting the melt down in this stadium deal until now.<BR/><BR/>The cost of the stadium has significantly increased to over $1 billion.<BR/><BR/>The original budget estimate of $923 million with a 50/50 split between the new Lucas Oil Stadium and the convention center expansion is now closer to 80/20.<BR/><BR/>The budget for the convention center expansion is in jeopardy because of mismanagement of the white elephant Lucas Oil Stadium.<BR/><BR/>The Colts deal cut with CIB does not provide enough funds to pay the light bills for the new stadium continues to be an outstanding problem.<BR/><BR/>Our cities future pipeline of conventions, trade shows, concerts, and events scheduled to pay for these projects has continued to decline with our largest customers deciding not to return and no new replacements being announced.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-78401986763343702162008-02-23T12:06:00.000-05:002008-02-23T12:06:00.000-05:00Don't forget the additional $12 million lost in a bad bet to lock in interest rates right after the Staduim Commission took over the project from CIB.<BR/><BR/>http://www.highbeam.com/doc/1G1-133663797.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-75004161862732769492008-02-23T11:05:00.000-05:002008-02-23T11:05:00.000-05:00When some 30% of all property taxes collected go to service bond debts it might be surmised that the Constitution XIII isn't being adhered to. It would be best for us to follow the advice in that article and VOID all bonds that are in excess of 2% of AV (using AV as the writers of the Constitution intended it to be meant rather than our current legislators).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-70225539657580533162008-02-23T10:39:00.000-05:002008-02-23T10:39:00.000-05:00Maybe his lawfirm can be bond counsel too at only 10% of the bond for their attorney fees?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-40182933071809790702008-02-23T10:36:00.000-05:002008-02-23T10:36:00.000-05:00Maybe cricket matches in the new stadium? Add eggrolls to the food menu?Wilson46201https://www.blogger.com/profile/14214029150233485312noreply@blogger.com