E-1 17-1657 Public Advice Memorandum from City Bond Counsel on Use of Bond Proceeds and Allocation of Bond Proceeds and Non-Bond Proceeds to a Parking Structure Financed with Build America Bonds
Let's not let the lawyers try & weasel out of this misuse of public funds. Selling/leasing city assets to private developers violates the spirit of the law, and quite possibly the word of the law. Dividing the assigned parking spots between different structures may allow the Build America Bonds money to be used, but it still amounts to giving away city assets to private development. This needs to stop. We should not be paying the interest on projects that only benefit private development.
Let's not let the lawyers try & weasel out of this misuse of public funds. Selling/leasing city assets to private developers violates the spirit of the law, and quite possibly the word of the law. Dividing the assigned parking spots between different structures may allow the Build America Bonds money to be used, but it still amounts to giving away city assets to private development. This needs to stop. We should not be paying the interest on projects that only benefit private development.