Tension mounts between Birmingham City Council and Mayor Larry Langford- al.com
The tension seems to be about the council not doing exactly what Larry wants, like massive giveaways to Children’s Hospital.
“It’s going to take some time for this council to get out of this mode of delay, delay, delay and do nothing,” Langford said. “I’m going to continue to do my job, and I just want them to do theirs.”
Meanwhile, he promises divine retribution upon Carole Smitherman for being mean to him:
“All it shows is there is no loyalty in any branch of government,” he said. “If God had wanted someone else there, they would be there. If you keep on manipulating the system, God won’t be pleased.”
Meanwhile, William Bell is still on the council while they try to figure out who’s on the County Commission, and has this to say:
“One fault of the mayor is he drops all this on the council at the last minute,” he said. “We don’t want to be perceived as a bunch of knuckleheads who don’t know what’s going on.”
Well, you’re probably always going to be perceived as knuckleheads. It really depends upon what kind of knucklehead you are.
Categories: God help us
Tagged: Alabama, Crazy Larry's House of Wacky Schemes
Jefferson County lacks debt management policy- al.com
You pretty much don’t want to read this in the newspaper:
When it comes to managing its debt and credit situation, Jefferson County has pretty much just been winging it.
The state’s most populous county, teetering toward bankruptcy after amassing $3.2 billion of sewer debt, lacks a modern and comprehensive policy covering the sale of bonds, the hiring of underwriters and dozens of other facets of municipal finance.
“Winging it”. Right there in the lede.
About 90 percent of the sewer bonds - and 40 percent of $1 billion in school bonds - are variable-rate securities. That means the interest rate the county pays to the bondholders changes based on an underlying formula or a periodic auction. The Government Officers Finance Association recommends limiting the use of variable-rate debt because of the risks.
Where was the Government Officer Finance Association when people were getting variable-rate mortgages on their homes?
Categories: Uncategorized
Tagged: Alabama, Jefferson County's Flushable Sewer Bonds
