This page contains a single entry from the blog posted on August 11, 2010 9:38 AM.
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Portland gets great rates on huge sewer bond borrowing
Apparently, the city's IOU gurus timed things well. The city's quite deft at racking up long-term debt; with this borrowing, Portland will be in hock in excess of $3.3 billion on long-term bonds and "interim" financing outstanding. We'll see -- and our kids will see -- how the city does at paying it off down the road.
UPDATE, 5:42 p.m.: Once again, the purchaser was Bank of America, and the true interest cost was 3.8586%. The 9½-year bonds will yield 2.69%; the 19½-year, 3.75%; and the 24½-year, 4.00%. Details here.
Comments (9)
Coincidentally, I just got my Portland water bill yesterday. $250 for 3 months. $70 for combined onsite/offsite "stormwater management."
WTF is that? I rent a f***ing townhouse. It didn't rain at all in July. Why am I getting billed seventy bucks for stormwater management?
We were amused reading about pheasants inhabiting vacant spaces in failing Detroit, until were saw some at our own "urban renewal" vacant lots at NE 102nd and Pacific across from Fred Meyer. Reminded us of our own imminent demise from our fiscally irresponsible elected officials in City Council.
Look at the bright side, Tekel. It's $70 down the rathole for you, but it's $70 that's going to make some fixie-toting hipster very happy. And after you're finished punching me repeatedly in the throat for that comment...
I guess if you're gonna do it, do it now while rates are cheap. Then they can stick someone responsible with the re-fi five years from now when rates take off.
Our kids will all be living in another part of the country - they won't be able to afford Portland's high taxes and sewer rates, and they won't be able to find a job here. And if they're smart, they won't want to pay off all the debt that the current generation of local politicians and voters has racked up.
The new sustainable business in Portland will be onsite Water and Sewer needs. It would be pretty hard to break the back of the city's rainwater monopoly unless a homeowner can install a huge onsite stormwater basin. Maybe new homes could be designed with lots of stairs and keep the rainwater footprint to a minimum. Will government allow a homeowner to manage his own waste and buy water from Culligan and disconnect from city mandates? Anarchy!!
dhughes609: . .Will government allow a homeowner to manage his own waste and buy water from Culligan and disconnect from city mandates? Anarchy!!
Most likely not!
Not with those in place making decisions now.
I am concerned that as they need more money or resources, there will be more resistance, that even more controls then will be implemented.
It isn't about what is best for us.
We are just the ones who keep feeding this losing situation.
In some states it is illegal to collect rainwater. We need to be ever watchful in this state over our rain and water. We would not want those who are not on the side of public interests to be in place 10 steps ahead of us.
Charamba, Douro 2008
Horse Heaven Hills, Cabernet 2010
Lorelle, Horse Heaven Hills Pinot Grigio 2011
Avignonesi, Montepulciano 2004
Lorelle, Willamette Valley Pinot Noir 2011
Villa Antinori, Toscana 2007
Mercedes Eguren, Cabernet Sauvignon 2009
Lorelle, Columbia Valley Cabernet 2011
Purple Moon, Merlot 2011
Purple Moon, Chardonnnay 2011
Abacela, Vintner's Blend No. 12
Opula Red Blend 2010
Liberte, Pinot Noir 2010
Chateau Ste. Michelle, Indian Wells Red Blend 2010
Woodbridge, Chardonnay 2011
King Estate, Pinot Noir 2011
Famille Perrin, Cotes du Rhone Villages 2010
Columbia Crest, Les Chevaux Red 2010
14 Hands, Hot to Trot White Blend
Familia Bianchi, Malbec 2009
Terrapin Cellars, Pinot Gris 2011
Columbia Crest, Walter Clore Private Reserve 2009
Campo Viejo, Rioja, Termpranillo 2010
Ravenswood, Cabernet Sauvignon 2009
Quinta das Amoras, Vinho Tinto 2010
Waterbrook, Reserve Merlot 2009
Lorelle, Horse Heaven Hills, Pinot Grigio 2011
Tarantas, Rose
Chateau Lajarre, Bordeaux 2009
La Vielle Ferme, Rose 2011
Benvolio, Pinot Grigio 2011
Nobilo Icon, Pinot Noir 2009
Lello, Douro Tinto 2009
Quinson Fils, Cotes de Provence Rose 2011
Anindor, Pinot Gris 2010
Buenas Ondas, Syrah Rose 2010
Les Fiefs d'Anglars, Malbec 2009
14 Hands, Pinot Gris 2011
Conundrum 2012
Condes de Albarei, Albariño 2011
Columbia Crest, Walter Clore Private Reserve 2007
Penelope Sanchez, Garnacha Syrah 2010
Canoe Ridge, Merlot 2007
Atalaya do Mar, Godello 2010
Vega Montan, Mencia
Benvolio, Pinot Grigio
Nobilo Icon, Pinot Noir, Marlborough 2009
Portuga, Rose 2011
Revelation, Chardonnay, Pays d'Oc 2010
Beaulieu, Cabernet, Rutherford 2005
Monte Alto, Tinto Reserva 2005
Chateau Ste. Michelle, Cabernet, Indian Wells 2009
Espiral, Vinho Rose
Vin-Koru, Pinot Gris 2011
14 Hands, Hot to Trot Red 2009
Rodney Strong, Cabernet, Sonoma 2009
Abacela, Vintner's Blend #11
Portuga, White 2010
La Bourgeoisie, Red 2009
Januik, Red 2009
Three Rivers, River's Red 2008
Kirkland, Alexander Valley Merlot 2008
Muga, Rioja Rose 2010
Quinta das Amoras, Vinho Tinto 2009
Mauro Molino, Barbera d'Alba 2009
Garda Chiaretto Rose
Columbia Crest, Two Vines Vineyard 10 White
Chateau Ste. Michelle, Pinot Gris, Columbia Valley 2009
L'Hortus, Rose de Saignee 2010
Maculan, Pino & Toi 2008
McKinley Springs, Bombing Range Red 2008
Trader Joe's Pinot Gris 2009
Montes Alpha, Cabernet 2007
Gran Sasso, Sangiovese, Terre di Chieti 2009
Garda, Classico Chiaretto Rose
Beaulieu, Cabernet, Rutherford 1999
Picos del Montgo, Tempranillo 2008
Chateau de Montmirail, Vacqueyras 2008
La Granja 360, Syrah 2009
Montgras, Carmenere Reserva 2009
Lange, Pinot Gris 2009
Columbia Crest, Horse Heaven Hills Cabernet 2008
Kirkland, Pinot Grigio 2010
Trader Joe's Coastal Syrah 2009
Columbia Crest, Horse Heaven Hills Merlot 2008
Trader Joe's Coastal Chardonnay 2009
Vieux Papes Red
Domaine de l'Aujardiere, Chardonnay 2009
Santa Rita, Cabernet, Medalla Real 2007
Penfold's, Koonunga Hill Shiraz Cabernet 2008
Guild, Red, Lot #02 2008
Dievole, Dievolino Sangiovese 2008
Laforet, Burgogne Chardonnay 2009
Columbia Winery, Merlot 2007
Bonterra, Cabernet 2008
Elk Cove, Pinot Gris 2009
Maquis Lien 2006
Scott Paul, Pinot Noir, Le Paulee 2007
The Occasional Book
Neil Young - Waging Heavy Peace
Mark Bego - Aretha Franklin, the Queen of Soul (2012 ed.)
Jenny Lawson - Let's Pretend This Never Happened
J.D. Salinger - Franny and Zooey
Charles Dickens - A Christmas Carol
Timothy Egan - The Big Burn
Deborah Eisenberg - Transactions in a Foreign Currency
Kurt Vonnegut Jr. - Slaughterhouse Five
Kathryn Lance - Pandora's Genes
Cheryl Strayed - Wild
Fyodor Dostoyevsky - The Brothers Karamazov
Jack London - The House of Pride, and Other Tales of Hawaii
Jack Walker - The Extraordinary Rendition of Vincent Dellamaria
Colum McCann - Let the Great World Spin
Niccolò Machiavelli - The Prince
Harper Lee - To Kill a Mockingbird
Emma McLaughlin & Nicola Kraus - The Nanny Diaries
Brian Selznick - The Invention of Hugo Cabret
Sharon Creech - Walk Two Moons
Keith Richards - Life
F. Sionil Jose - Dusk
Natalie Babbitt - Tuck Everlasting
Justin Halpern - S#*t My Dad Says
Mark Herrmann - The Curmudgeon's Guide to Practicing Law
Barry Glassner - The Gospel of Food
Phil Stanford - The Peyton-Allan Files
Jesse Katz - The Opposite Field
Evelyn Waugh - Brideshead Revisited
J.K. Rowling - Harry Potter and the Sorcerer's Stone
David Sedaris - Holidays on Ice
Donald Miller - A Million Miles in a Thousand Years
Mitch Albom - Have a Little Faith
C.S. Lewis - The Magician's Nephew
F. Scott Fitzgerald - The Great Gatsby
William Shakespeare - A Midsummer Night's Dream
Ivan Doig - Bucking the Sun
Penda Diakité - I Lost My Tooth in Africa
Grace Lin - The Year of the Rat
Oscar Hijuelos - Mr. Ives' Christmas
Madeline L'Engle - A Wrinkle in Time
Steven Hart - The Last Three Miles
David Sedaris - Me Talk Pretty One Day
Karen Armstrong - The Spiral Staircase
Charles Larson - The Portland Murders
Adrian Wojnarowski - The Miracle of St. Anthony
William H. Colby - Long Goodbye
Steven D. Stark - Meet the Beatles
Phil Stanford - Portland Confidential
Rick Moody - Garden State
Jonathan Schwartz - All in Good Time
David Sedaris - Dress Your Family in Corduroy and Denim
Anthony Holden - Big Deal
Robert J. Spitzer - The Spirit of Leadership
James McManus - Positively Fifth Street
Jeff Noon - Vurt
Road Work
Miles run year to date: 21
At this date last year: 52
Total run in 2012: 129
In 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269
Comments (9)
Coincidentally, I just got my Portland water bill yesterday. $250 for 3 months. $70 for combined onsite/offsite "stormwater management."
WTF is that? I rent a f***ing townhouse. It didn't rain at all in July. Why am I getting billed seventy bucks for stormwater management?
Posted by tekel | August 11, 2010 9:43 AM
no problem, they'll just borrow another $3.3 billion to pay off the $3.3 billion in long-term bonds, I think it's called floating.
Posted by phil | August 11, 2010 10:21 AM
We were amused reading about pheasants inhabiting vacant spaces in failing Detroit, until were saw some at our own "urban renewal" vacant lots at NE 102nd and Pacific across from Fred Meyer. Reminded us of our own imminent demise from our fiscally irresponsible elected officials in City Council.
Posted by Harry | August 11, 2010 10:59 AM
Look at the bright side, Tekel. It's $70 down the rathole for you, but it's $70 that's going to make some fixie-toting hipster very happy. And after you're finished punching me repeatedly in the throat for that comment...
Posted by Texas Triffid Ranch | August 11, 2010 11:25 AM
I guess if you're gonna do it, do it now while rates are cheap. Then they can stick someone responsible with the re-fi five years from now when rates take off.
Posted by Steve | August 11, 2010 11:43 AM
Hey Steve...how about NOT doing it at all...for a change?
Posted by junior | August 11, 2010 11:56 AM
Our kids will all be living in another part of the country - they won't be able to afford Portland's high taxes and sewer rates, and they won't be able to find a job here. And if they're smart, they won't want to pay off all the debt that the current generation of local politicians and voters has racked up.
Posted by Pat | August 11, 2010 4:37 PM
The new sustainable business in Portland will be onsite Water and Sewer needs. It would be pretty hard to break the back of the city's rainwater monopoly unless a homeowner can install a huge onsite stormwater basin. Maybe new homes could be designed with lots of stairs and keep the rainwater footprint to a minimum. Will government allow a homeowner to manage his own waste and buy water from Culligan and disconnect from city mandates? Anarchy!!
Posted by dhughes609 | August 11, 2010 9:40 PM
dhughes609: . .Will government allow a homeowner to manage his own waste and buy water from Culligan and disconnect from city mandates? Anarchy!!
Most likely not!
Not with those in place making decisions now.
I am concerned that as they need more money or resources, there will be more resistance, that even more controls then will be implemented.
It isn't about what is best for us.
We are just the ones who keep feeding this losing situation.
In some states it is illegal to collect rainwater. We need to be ever watchful in this state over our rain and water. We would not want those who are not on the side of public interests to be in place 10 steps ahead of us.
http://www.naturalnews.com/029286_rainwater_collection_water.html
Posted by clinamen | August 12, 2010 4:02 PM