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On October 19, the San Diego City Council moved to further analyze the adoption of an ordinance and resolution that would authorize issuance of $13 million in “Qualified Energy Conservation Bonds” to pay for more than 38,000 broad-spectrum streetlights. The bonds would finance replacement of existing lighting structures that use low/high-pressure sodium lights.

“The Gaslamp Quarter has had these durable broad-spectrum lights for more than 12 years,” said Tom Blair, an energy administrator for the City’s Environmental Services Department.

According to Blair, federal stimulus funds and $3 million available in state Energy Efficiency Community Block Grants allowed for the replacement of only 10,000 lights. The bonds will complete the funding for the project, allowing it to move forward.

A savings of $1.2 million annually is expected from the energy-efficient lights and will be used to pay back the bonds, said Blair. The proposed replacement plan seeks to phase in the new lights with the savings as they are realized.

The San Diego City Council stalled on voting to adopt the measure, moving to wait until the City returned analysis on how the new lights will affect maintenance crews currently assigned to upkeep the sodium lights.

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Founder Oct. 23, 2010 @ 2:59 p.m.

I bet the real reason is they want to wait until they sell off "street lighting in managed Competition", then we all can get yet another fee added to our tax bills by Sanders LA friends...

Vote No on Prop and put our Leaders to Work!

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a2zresource Oct. 23, 2010 @ 9:24 p.m.

The City Council is wise to postpone the issuance of AA- or lower grade debt until after the election.

If Proposition D fails, Fitch Ratings has already indicated that such a loss may be a negative factor in determining the ratings of any specific City-issued general obligations. See the supporting documents from the Fitch Ratings training session on debt servicing for city council members earlier this year.

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Founder Oct. 24, 2010 @ 6:44 p.m.

Reply #2 It would be great if you could post a link to that "training session"...

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a2zresource Oct. 24, 2010 @ 8:36 p.m.

RE #3:

From experience, there are 3 ways for me to do that.

(1) try to link directly to the City Clerk's agenda supporting documents. Unfortunately, past experience shows that if there is something with details that are not supposed to be known, the file names and directory names are changed rather frequently... it's on the web site, but only the City internal links can find it. No outside linking is allowed, apparently.

(2) search the City Clerk's agendas for council meetings and use the Clerk's web pages to locate the OCTOBER 11 MONDAY DOCKET link for "ITEM 200 - Financial Training for the City Council: Debt Issuance and Administration and an Overview of Credit Ratings."

(3) me downloading the supporting documents and throwing them up on my own website. I guess I could have them uploaded to sdreader.com if I knew what I was doing/requesting.

Anybody who wants the docs can go to the City Clerk's webpages and get it themselves. By Monday morning (hopefully), I'll have my own permanent web links up that won't change like the City Clerk's do.

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a2zresource Oct. 24, 2010 @ 10:15 p.m.

OK, I got ambitious.

http://sdreader.stickywebs.com

A the top of that web page, there are permanent links to my copies of the Fitch Ratings supporting documents to the City Council training in debt servicing from October 11, 2010. The most in-depth document is "Fitch - U.S. Local Govt Tax - Supported Rating Criteria Dec 2009" but the PowerPoint presentations generally make for a faster read.

I am also making these docs available to the people on the Southwestern College threads, as it may help faculty and staff in asserting their rights to open shared SWCCD decision-making processes. I'll be expanding that because we all have to live with government, and government means bonds are being issued, typically secured with our future tax payments in mind for covering the debt.

What we don't about government debt is why government debt is drowning us.

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Founder Oct. 25, 2010 @ 8:50 a.m.

Reply #4 & #5 You're my HERO! Thank You

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