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This page contains a single entry from the blog posted on March 12, 2010 7:51 AM. The previous post in this blog was County doc: "What I really said about the reservoirs". The next post in this blog is Need to calculate child support? Guess whose face you see.. Many more can be found on the main index page or by looking through the archives.

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Friday, March 12, 2010

Portland closes secret loan deal for PGE Park remodel

The interim (up to five years) line of credit that the City of Portland is taking out from Bank of America for the $12 million city share of the PGE Park remodel closed on Wednesday. We've asked to see the documents on the deal, but nowadays the city's "debt management" people jerk us around royally when we ask for access to such public records. We had to fight to see the bids that four banks made on the deal (which we finally got after calling in the county D.A.), and we may have to do the same to get our hands on the final closing documents. We'll let you know what we find after we're deemed worthy.

Comments (2)

Keep at it

Something about BoA to entertain you while we wait:
http://online.wsj.com/article/SB10001424052748704655004575113872190094934.html?ru=yahoo&mod=yahoo_hs

BoA, you'll recall, was featured prominently in "Capitalism: A love story." While one could not wish a more appropriate dance partner upon the current City Council, the fact that they are paying for this party with our money is extremely distressing. We are long past the moment in this city's history when complete transparency regarding the personal bank and investment accounts of its elected officials must be required.




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