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Ok…. I went ahead and spent about a half hour of my time to read the City Attorney’s Opening Brief, in their bid to get a Writ of Mandate against the State of California and the Department of Finance. I believe I am owed $20.00 for the wasted half hour.
Jesus, is Munoz for real? Does he even know what the real issues are? Please Tony, …don’t you get it? The Bonds are a enforceable obligation that was never in question…. the problem, Scooter, is the proceeds of the bonds cannot be spent because, you silly goose, you had no “Construction Contracts” signed or in force to spend the money at the time of the dissolution of the Redevelopment Agency.
Anyone in the construction business, or for that matter, in the government bidding business understands the predicament you have gotten the city in. There is no Project Phoenix, no detailed drawings, no specifications, no bid process, no winning bid, no flipping signed contracts with Licensed Construction Contractors, therefore, no Project to fund.
The new state laws covering the dissolution of the Redevelopment Agency (RDA) says unequivocally that once in effect RDA’s were not allowed to enter into new contracts. Since there are no construction contracts in existence for Project Phoenix or any other project planned by the RDA or its successor agency prior to, or for that matter, after the passage of ABx 26 and AB x 27, the funds created by the Rutan and Tucker “Bond Scam” have no place to be legally spent. We told you council members at the time of floating the bonds, the scam would not fly. Remember?
The funds can not be transferred to the city, they cannot be used by the city or the successor agency for anything other than government purpose approved by the Department of Finance. Seems simple enough even I can grasp the logic of it.
If you have a few minutes have a read of this wanker’s juvenile trial brief. Its quite a laugh.
Any simpleton can figure that one of the ways to get out of paying 30 flipping years of bond repayments is by either defeasement (pay off) or by buying back the bonds. The state gave those options as friendly advice, an alternative to having the city going belly up by the shear weight of their 30 years repayment schedule.
Munoz is not the only one at blame here. Everyone who bought into the bond scam is at fault and everyone who then humored the little tosser by shelling out a half a million bucks outright and promising another half a million for future legal fees yet to be determined should be on the carpet.
Anyone with their finger prints on this shit-sandwich, in the end, needs to take a big old bite. If anything, those sitting on the council that enabled this little wank, need to tender their resignation if they are unable to prevail. And let me say their chance of prevailing is about the same as me getting a gratuitous shagging from Reba McEntire.
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