Saturday, October 8, 2016
Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Billy Bush Video On CNN #TrumpTapes
Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Billy Bush Video On CNN #TrumpTapes
Ana Navarro Blasts Scottie Nell Hughes Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Billy Bush Video On CNN #TrumpTapes Ana Navarro and Scottie Nell Hughes are two Republican pundits completely meltdown on CNN moments ago and over the Donald Trump tape where he bragged of grabbing the private parts of women.
via YouTube http://youtu.be/s3Wk4hVCs3M
Ana Navarro Blasts Scottie Nell Hughes Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Billy Bush Video On CNN #TrumpTapes Ana Navarro and Scottie Nell Hughes are two Republican pundits completely meltdown on CNN moments ago and over the Donald Trump tape where he bragged of grabbing the private parts of women.
via YouTube http://youtu.be/s3Wk4hVCs3M
Friday, October 7, 2016
Donald Trump Hit On Nancy O'Dell, Tried To Fire Her After Rejection #TrumpTapes
Donald Trump Hit On Nancy O'Dell, Tried To Fire Her After Rejection #TrumpTapes
Donald Trump Hit On Nancy O'Dell, Tried To Fire Her After Rejection #TrumpTapes
via YouTube http://youtu.be/Nyh2lwonZR0
Donald Trump Hit On Nancy O'Dell, Tried To Fire Her After Rejection #TrumpTapes
via YouTube http://youtu.be/Nyh2lwonZR0
Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Video On CNN In GOP Pundit Meltdown
Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Video On CNN In GOP Pundit Meltdown
Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Video On CNN In GOP Pundit Meltdown Two Republican pundits completely meltdown on CNN moments ago and over the Donald Trump tape where he bragged of grabbing the private parts of women.
via YouTube http://youtu.be/UHoFjV9Rfd0
Ana Navarro Blasts Scottie Nell Hughes Over Donald Trump Video On CNN In GOP Pundit Meltdown Two Republican pundits completely meltdown on CNN moments ago and over the Donald Trump tape where he bragged of grabbing the private parts of women.
via YouTube http://youtu.be/UHoFjV9Rfd0
Will Atlanta upset Denver on the road? – Mile High Sports
Mile High SportsCatch Weekend Drive with Sean Walsh this weekend from 2p-4p on Saturday and 6p-8p on Sunday for Broncos postgame coverage on AM 1340 | FM 104.7. Stream live any time for the best local coverage of Colorado sports from Denver’s biggest sports talk …Why Falcons-Broncos is Week 5’s most important gameFOXSports.comPFW Matchup Breakdown: […]
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Reid, Maxwell debate respect, affordable housing, aging population – The Citizen.com
The Citizen.comIt is hoped by some that new industries, such as the continually increasing number of jobs at Pinewood Atlanta Studios and affiliated companies, and perhaps other new industries, will reverse that trend. The forums were sponsored by the Fayette County … and more …read more From:: Pinewood Studios Atlanta Related News From Google News
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Chicago Cubs Win NLDS 2016 Game One Over SF Giants 1-0 Javier Baez HR
Chicago Cubs Win NLDS 2016 Game One Over SF Giants 1-0 Javier Baez HR
Chicago Cubs Win NLDS 2016 Game One Chicago Cubs Win NLDS 2016 Game One Over SF Giants 1-0 Javier Baez HR
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Chicago Cubs Win NLDS 2016 Game One Chicago Cubs Win NLDS 2016 Game One Over SF Giants 1-0 Javier Baez HR
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Donald Trump Grab Them By The Pussy Billy Bush Video Shocks CVS Atlanta Staffers
Donald Trump Grab Them By The Pussy Billy Bush Video Shocks CVS Atlanta Staffers
Donald Trump Grab Them By The Pussy Billy Bush Video Shocks CVS Atlanta Staffers
via YouTube http://youtu.be/8nLa2f-Za9Y
Donald Trump Grab Them By The Pussy Billy Bush Video Shocks CVS Atlanta Staffers
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Donald Trump Grab Them By The Pussy Billy Bush Video Wrecks Campaign
Donald Trump Grab Them By The Pussy Billy Bush Video Wrecks Campaign
Donald Trump Grab Them By The Pussy Billy Bush Video Wrecks Campaign
via YouTube http://youtu.be/82CC2IMtni4
Donald Trump Grab Them By The Pussy Billy Bush Video Wrecks Campaign
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Donald Trump Groping Women Pussy Comment To Billy Bush On Video
Donald Trump Groping Women Pussy Comment To Billy Bush On Video
Donald Trump Groping Women Pussy Comment To Billy Bush On Video Donald Trump for President just got nuked.
via YouTube http://youtu.be/rNxbO896X5g
Donald Trump Groping Women Pussy Comment To Billy Bush On Video Donald Trump for President just got nuked.
via YouTube http://youtu.be/rNxbO896X5g
Majestic Out Of Las Vegas Oakland Raiders Stadium Deal Invalidates SNTIC Rec
Majestic Out Of Las Vegas Oakland Raiders Stadium Deal Invalidates SNTIC Rec
Majestic Out Of Las Vegas Oakland Raiders Stadium Deal Invalidates SNTIC Rec Las Vegas Sands Oakland Raiders NFL Stadium Team Loses Credible Developer Majestic During the meetings of the Southern Nevada Tourism and Infrastructure Committee (SNTIC) it was common knowledge that Majestic Realty would be involved in the plan for an NFL stadium for the Oakland Raiders. And presentations to the SNTIC showed that Majestic would put in $150 million. Now as of today, Majestic says its out of the deal and that the stadium is the "legacy" project of Sheldon Adelson. One that Majestic makes clear it wants to be no part of. But it can't just back out without questions. First, where are the assurances that Majestic's planned $150 million contribution will be replaced by Las Vegas Sands and not Clark County? Second, Majestic is the only developer with staff who are experienced in new NFL stadium planning. Who replaces that? Third, as Majestic had a speaking role in the presentations, its departure basically invalidates the SNTIC deal. The SNTIC made its decision based in part on Majestic's participation. Now they are gone.
via YouTube http://youtu.be/F6K6mr5MVX8
Majestic Out Of Las Vegas Oakland Raiders Stadium Deal Invalidates SNTIC Rec Las Vegas Sands Oakland Raiders NFL Stadium Team Loses Credible Developer Majestic During the meetings of the Southern Nevada Tourism and Infrastructure Committee (SNTIC) it was common knowledge that Majestic Realty would be involved in the plan for an NFL stadium for the Oakland Raiders. And presentations to the SNTIC showed that Majestic would put in $150 million. Now as of today, Majestic says its out of the deal and that the stadium is the "legacy" project of Sheldon Adelson. One that Majestic makes clear it wants to be no part of. But it can't just back out without questions. First, where are the assurances that Majestic's planned $150 million contribution will be replaced by Las Vegas Sands and not Clark County? Second, Majestic is the only developer with staff who are experienced in new NFL stadium planning. Who replaces that? Third, as Majestic had a speaking role in the presentations, its departure basically invalidates the SNTIC deal. The SNTIC made its decision based in part on Majestic's participation. Now they are gone.
via YouTube http://youtu.be/F6K6mr5MVX8
Falcons’ PSL sales, Braves’ TV ratings and other sports biz news – Atlanta Journal Constitution
Atlanta Journal ConstitutionFalcons’ TV ratings: The Falcons’ victory over the Carolina Panthers last Sunday posted a 20.8 rating in the Atlanta TV market, the biggest draw in a busy weekend of local sports. Saturday’s Georgia-Tennessee game drew a 16.0 rating here, Saturday’s … and more …read more From:: Atlanta Sports News By Google News
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How Atlanta Journal covered Tech’s 222-0 win – Atlanta Journal Constitution (blog)
Atlanta Journal Constitution (blog)The game story of Georgia Tech’s 222-0 win over Cumberland, from the Oct. 8, 1916 edition of the Atlanta Journal: TECH PILES UP BIG SCORE ON CUMBERLAND. World’s Record In Total Points Made by Tech. Almost inconceivable Score of 222 to 0 Was …Revisiting Georgia Tech 222, Cumberland 0 and how it […]
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SF Bay Area Events Michaan's Auctions Estate Sale Saturday 2751 Todd, Alameda, CA #Auctions
SF Bay Area Events Michaan's Auctions Estate Sale Saturday 2751 Todd, Alameda, CA #Auctions
SF Bay Area Events Michaan's Auctions Estate Sale Saturday 2751 Todd, Alameda, CA #Auctions
via YouTube http://youtu.be/h3ubs8TRGGQ
SF Bay Area Events Michaan's Auctions Estate Sale Saturday 2751 Todd, Alameda, CA #Auctions
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Hurricane Matthew evacuees pack Atlanta hotels – 11alive.com
11alive.comATLANTA — Evacuees from Florida, South Carolina, and Southeast Georgia are packing hotels throughout metro Atlanta. Thousands of people plan to call Atlanta home for at least a few days as Hurricane Matthew batters the east coast. Exits off I-75 North …Atlanta hospitals ready for hurricane-evacuated patientsMyAJC all 4 news articles …read more From:: Atlanta […]
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SF Bay Area Event Michaan's Auctions Estate Sale 2751 Todd, Alameda, CA #Auctions
SF Bay Area Event Michaan's Auctions Estate Sale 2751 Todd, Alameda, CA #Auctions
SF Bay Area Event Michaan's Auctions Estate Sale 2751 Todd, Alameda, CA #Auctions Rare opportunities in collecting will be presented at Michaan's monthly Estate Sale on Saturday, October 8. Iconic Modernist works and Asian art treasures are featured, as well as fine jewelry and great finds for collectors of Dutch Masters, schoolgirl samplers, 1940s classic comics, cast iron banks, and much more. Groundbreaking pioneers of 20th century art and design --- Josef Albers, Hans Wegner and Eero Saarinen --- are among the creators of the sale's fine art and furniture highlights. Their profound, enduring influence can be seen in the current widespread popularity of Modernist style. Original works by these masters create great excitement at auction in an ever-increasing pool of collectors. Especially noteworthy is the much-loved lounge chair known as Papa Bear, which looks as fresh in today's interiors as it did when Wegner, the preeminent Danish Modern chair designer, introduced it at the midpoint of the 20th century. The Papa Bear armchair's impeccable design pedigree is matched only by its deep comfort; these qualities make it one of the most highly coveted vintage modern furniture pieces. The armchair and its matching ottoman ($7,000-9,000) are upholstered in blue wool and were produced in the 1950's by A.P. Stolen; the manufacturer's round metal control tag is intact. Another Modern highlight of October's auction is a signature work by renowned colorist Albers. His silkscreen, "Hommage to the Square: I-Sb," (lot 269, $1,500-2,000) came to Michaan's from the collection of a former General Counsel, Metropolitan Museum of Art. Also offered in the October 8th sale is Rembrandt's "Christ Driving the Moneychangers from the Temple,"a drypoint etching produced posthumously (lot 291, $2,000-3,000). The 17th century plate was preceded by the artist's well- known oil painting of the same subject, and Rembrandt's peerless mastery of light and shadow remains undiminished in the transition to ink on paper. The allegorical power of the scene depicted is enhanced by layer upon layer of chaotic, earthy detail. There is panic even in the eyes of the market animals, as man and beast scramble to flee Christ's rage. The work perfectly captures the Dutch Master's gift for finding divine inspiration in the fine details of daily life. Works of museum caliber also appear in the October sale of Asian Art. Specialist Harry Huang will offer an exquisite Japanese cloisonné vase by Hattori Tadasaburo, the esteemed enamelist whose pieces are in the collections of the Victoria and Albert Museum and the Hermitage. The vase (lot 199, $500-700) is decorated with naturalistic poppies sprawling almost playfully across a brilliant blue ground. It exemplifies the artistic energy of the Meiji period, when Japanese artisans confronted Western influences, resulting in a spirited tension that shaped some of Japan's most avidly collected works of art. "Michaan's will continue to serve the market's healthy appetite for high-quality collectible Asian objects through the end of 2016 and beyond," says Huang, "building on the momentum generated by our sales this year." As always, objects of desire are plentiful in Michaan's jewelry department. "It's hard to find a more resilient trend in fine jewelry than jadeite jade accented by diamonds," notes Michaan's gemologist Elise Coronado. The October auction includes these highly prized gemstones together in a navette-shaped ring of green jade, completed by diamonds set in 18k white gold. Another highlight is the agate, turquoise and 14k gold figa --- a carved amulet in the shape of a fist --- traditionally a protective charm, now in vogue worn as a pendant necklace. An excellent Zuni jewelry suite of silver and turquoise will also attract collectors with its timeless beauty and spiritual resonance. Fine jewelry will be complemented at the October auction by an extensive collection of romantic Art Nouveau jewelry boxes. The cast metal boxes vary in size and shape, but all showcase the sensuous decoration characteristic of the Art Nouveau period. The collection is divided into more than twenty lots of flora and fauna, fair ladies and winsome cherubs, miniature bombe chests and beloved American landmarks. All are highly detailed, with gilt, bronze, silver or copper finishes. The illustrated auction catalog will be posted online, when available, at www.michaans.com. Property offered in the October 8 Estate Sale can be previewed in the gallery on the previous Saturday and Sunday, October 1 and 2; on Friday, October 7; and on the day of the sale. For general information please call (510) 740-0220 ext. 0 or e-mail info@michaans.com. Michaan s Auctions is located at 2751 Todd Street, Alameda, CA 94501. eet, Alameda, CA 94501.
via YouTube http://youtu.be/RYRfQotIapM
SF Bay Area Event Michaan's Auctions Estate Sale 2751 Todd, Alameda, CA #Auctions Rare opportunities in collecting will be presented at Michaan's monthly Estate Sale on Saturday, October 8. Iconic Modernist works and Asian art treasures are featured, as well as fine jewelry and great finds for collectors of Dutch Masters, schoolgirl samplers, 1940s classic comics, cast iron banks, and much more. Groundbreaking pioneers of 20th century art and design --- Josef Albers, Hans Wegner and Eero Saarinen --- are among the creators of the sale's fine art and furniture highlights. Their profound, enduring influence can be seen in the current widespread popularity of Modernist style. Original works by these masters create great excitement at auction in an ever-increasing pool of collectors. Especially noteworthy is the much-loved lounge chair known as Papa Bear, which looks as fresh in today's interiors as it did when Wegner, the preeminent Danish Modern chair designer, introduced it at the midpoint of the 20th century. The Papa Bear armchair's impeccable design pedigree is matched only by its deep comfort; these qualities make it one of the most highly coveted vintage modern furniture pieces. The armchair and its matching ottoman ($7,000-9,000) are upholstered in blue wool and were produced in the 1950's by A.P. Stolen; the manufacturer's round metal control tag is intact. Another Modern highlight of October's auction is a signature work by renowned colorist Albers. His silkscreen, "Hommage to the Square: I-Sb," (lot 269, $1,500-2,000) came to Michaan's from the collection of a former General Counsel, Metropolitan Museum of Art. Also offered in the October 8th sale is Rembrandt's "Christ Driving the Moneychangers from the Temple,"a drypoint etching produced posthumously (lot 291, $2,000-3,000). The 17th century plate was preceded by the artist's well- known oil painting of the same subject, and Rembrandt's peerless mastery of light and shadow remains undiminished in the transition to ink on paper. The allegorical power of the scene depicted is enhanced by layer upon layer of chaotic, earthy detail. There is panic even in the eyes of the market animals, as man and beast scramble to flee Christ's rage. The work perfectly captures the Dutch Master's gift for finding divine inspiration in the fine details of daily life. Works of museum caliber also appear in the October sale of Asian Art. Specialist Harry Huang will offer an exquisite Japanese cloisonné vase by Hattori Tadasaburo, the esteemed enamelist whose pieces are in the collections of the Victoria and Albert Museum and the Hermitage. The vase (lot 199, $500-700) is decorated with naturalistic poppies sprawling almost playfully across a brilliant blue ground. It exemplifies the artistic energy of the Meiji period, when Japanese artisans confronted Western influences, resulting in a spirited tension that shaped some of Japan's most avidly collected works of art. "Michaan's will continue to serve the market's healthy appetite for high-quality collectible Asian objects through the end of 2016 and beyond," says Huang, "building on the momentum generated by our sales this year." As always, objects of desire are plentiful in Michaan's jewelry department. "It's hard to find a more resilient trend in fine jewelry than jadeite jade accented by diamonds," notes Michaan's gemologist Elise Coronado. The October auction includes these highly prized gemstones together in a navette-shaped ring of green jade, completed by diamonds set in 18k white gold. Another highlight is the agate, turquoise and 14k gold figa --- a carved amulet in the shape of a fist --- traditionally a protective charm, now in vogue worn as a pendant necklace. An excellent Zuni jewelry suite of silver and turquoise will also attract collectors with its timeless beauty and spiritual resonance. Fine jewelry will be complemented at the October auction by an extensive collection of romantic Art Nouveau jewelry boxes. The cast metal boxes vary in size and shape, but all showcase the sensuous decoration characteristic of the Art Nouveau period. The collection is divided into more than twenty lots of flora and fauna, fair ladies and winsome cherubs, miniature bombe chests and beloved American landmarks. All are highly detailed, with gilt, bronze, silver or copper finishes. The illustrated auction catalog will be posted online, when available, at www.michaans.com. Property offered in the October 8 Estate Sale can be previewed in the gallery on the previous Saturday and Sunday, October 1 and 2; on Friday, October 7; and on the day of the sale. For general information please call (510) 740-0220 ext. 0 or e-mail info@michaans.com. Michaan s Auctions is located at 2751 Todd Street, Alameda, CA 94501. eet, Alameda, CA 94501.
via YouTube http://youtu.be/RYRfQotIapM
Thursday, October 6, 2016
Sean Penn 56 With Hot Blonde Leila George 24 - Awesome!
Sean Penn 56 With Hot Blonde Leila George 24 - Awesome!
Sean Penn 56 With Hot Blonde Leila George 24 - Awesome! Really. So what?! Why do some folks act like this is a weird deal when it's so common? Wow. Get over it. Three cheers for Sean Penn! He's 56 and she's 24! Awesome!
via YouTube http://youtu.be/JKzqc7CCOtI
Sean Penn 56 With Hot Blonde Leila George 24 - Awesome! Really. So what?! Why do some folks act like this is a weird deal when it's so common? Wow. Get over it. Three cheers for Sean Penn! He's 56 and she's 24! Awesome!
via YouTube http://youtu.be/JKzqc7CCOtI
Las Vegas Oakland Raiders NFL Stadium Legislation Fiscal Mistake, Clark County, And Edward Diggs
Las Vegas Oakland Raiders NFL Stadium Legislation Fiscal Mistake, Clark County, And Edward Diggs
Las Vegas Oakland Raiders NFL Stadium Legislation Fiscal Mistake, Clark County, And Edward Diggs
via YouTube http://youtu.be/rJIZe9fk5bY
Las Vegas Oakland Raiders NFL Stadium Legislation Fiscal Mistake, Clark County, And Edward Diggs
via YouTube http://youtu.be/rJIZe9fk5bY
Las Vegas Oakland Raiders NFL Stadium Legislation Has Fiscal Mistake That Hurts Clark County
Las Vegas Oakland Raiders NFL Stadium Legislation Has Fiscal Mistake That Hurts Clark County
Las Vegas Oakland Raiders NFL Stadium Legislation Has Fiscal Mistake That Hurts Clark County In its rush to approve a poltically-motivated recommendation for a $750 million subsidy for Las Vegas Sands and for an NFL-ready stadium ostensibly for the Oakland Raiders, The Southern Nevada Tourism and Infrastructure Committee, lacking a second opinion on the design of the proposed public subsidy, and whether it would actually work, allowed itself to be intellectually bullied into accepting a plan that has no real written protection for Clark County, Nevada. The fiscal plan was formed to create an argument that a $750 million subsidy was doable, even if the fact was that it's too high by $200 million. In municipal bond finance, there is a term called “the debt coverage ratio”. That means the amount of money that, in this case, a tax, is projected to take in, over and above the annual bond payments plus interest required to pay for it over time, in this case 33 years. Ideally, you want twice the revenue to come in annually over the cost of the annual bond payments, or that's called “annual the debt service”. In fact, municipal bond finance calls for a debt coverage ratio of 2. I've written and vlogged about this before, but it bears repeating because the basic problem still exists, and now the Nevada Legislature is being asked to approve it by Governor Sandoval. The $750 million bond issue is based on a debt coverage ratio not of 2, but of 1.5. In other words, they would be allowed to take in less money over and above the annual the debt service – a riskier bond issue. So why do 1.5 and not 2? Well, $750 million times 1.5 is $1.125 billion - $750 million times 2 is $1.5 billion. So in order to justify the $750 million you only need $1.125 billion and not the additional $375 million, which would get us to $1.5 billion. When I first raised this issue, the original $750 million bond plan was to be for what's called a “revenue bond” - that means the bond is based on the projected revenue stream from the tax increase. But when the SNTIC elected official started to ask questions about the debt coverage ratio, the bond plan was changed so that it is a general obligation bond. The definition of a general obligation bond, according to the Municipal Securities Rule Making Board is this: “Typically refers to a bond issued by a state or local government that is payable from general funds of the issuer, Most general obligation bonds are said to entail the full faith and credit (and in many cases the taxing power) of the issuer - Clark County. By contrast, a revenue bond is a type of bond issued by a state or local government, but is based on a specific source of revenue, like a hotel tax, in this case, or the sale of personal seat license's in the case of the first Raiders Deal that upgraded the Oakland Coliseum and paved the way for the Raiders to return to Oakland from Los Angeles. In the case of the first Raiders Deal, the protection against bond default in case less than the required level of $83 million in personal seat licenses were sold were the general funds of the City of Oakland and the County of Alameda – only $56 million were sold. The deal didn't work, and the City of Oakland and the County of Alameda are into their 20th year of $20 million in annual payments from their general funds. The Las Vegas Raiders Deal is written in such a way that it dips directly into the Clark County General Fund, and while the stadium authority is used as the collector of tax money from the hotel tax, there's no language that specifically says that no part of the Clark County general fund can be used in place of, or in addition to the tax revenue that's collected by the stadium authority. There is no language that specifically defines where the Clark County general fund is in the deal – it's not there. Yet, the legislation calls for a general obligation bond, but it's based ostensibly based on a single-source of revenue, the hotel tax increase. Right? So if the Clark County's floating the general obligation bond, where is the language that it collects the tax revenue from the stadium authority? It's not there – the stadium authority is the collector of the money. Normally under a general obligation bond, Clark County itself would collect the tax revenue, and not the stadium authority. What this should have been is the County collecting the tax increase revenue, and then giving to the the stadium authority the amount needed for the bond debt service. It's like someone at the SNTIC didn't want Clark County to have clear control over the flow of funds, but then forgot that its being asked to issue a general obligation bond! This is all messed up. You can't guess at the correct answer and say “Well, they intended this” – it's supposed to be written in the legislation. It's not there.
via YouTube http://youtu.be/rIrMkOq-dCA
Las Vegas Oakland Raiders NFL Stadium Legislation Has Fiscal Mistake That Hurts Clark County In its rush to approve a poltically-motivated recommendation for a $750 million subsidy for Las Vegas Sands and for an NFL-ready stadium ostensibly for the Oakland Raiders, The Southern Nevada Tourism and Infrastructure Committee, lacking a second opinion on the design of the proposed public subsidy, and whether it would actually work, allowed itself to be intellectually bullied into accepting a plan that has no real written protection for Clark County, Nevada. The fiscal plan was formed to create an argument that a $750 million subsidy was doable, even if the fact was that it's too high by $200 million. In municipal bond finance, there is a term called “the debt coverage ratio”. That means the amount of money that, in this case, a tax, is projected to take in, over and above the annual bond payments plus interest required to pay for it over time, in this case 33 years. Ideally, you want twice the revenue to come in annually over the cost of the annual bond payments, or that's called “annual the debt service”. In fact, municipal bond finance calls for a debt coverage ratio of 2. I've written and vlogged about this before, but it bears repeating because the basic problem still exists, and now the Nevada Legislature is being asked to approve it by Governor Sandoval. The $750 million bond issue is based on a debt coverage ratio not of 2, but of 1.5. In other words, they would be allowed to take in less money over and above the annual the debt service – a riskier bond issue. So why do 1.5 and not 2? Well, $750 million times 1.5 is $1.125 billion - $750 million times 2 is $1.5 billion. So in order to justify the $750 million you only need $1.125 billion and not the additional $375 million, which would get us to $1.5 billion. When I first raised this issue, the original $750 million bond plan was to be for what's called a “revenue bond” - that means the bond is based on the projected revenue stream from the tax increase. But when the SNTIC elected official started to ask questions about the debt coverage ratio, the bond plan was changed so that it is a general obligation bond. The definition of a general obligation bond, according to the Municipal Securities Rule Making Board is this: “Typically refers to a bond issued by a state or local government that is payable from general funds of the issuer, Most general obligation bonds are said to entail the full faith and credit (and in many cases the taxing power) of the issuer - Clark County. By contrast, a revenue bond is a type of bond issued by a state or local government, but is based on a specific source of revenue, like a hotel tax, in this case, or the sale of personal seat license's in the case of the first Raiders Deal that upgraded the Oakland Coliseum and paved the way for the Raiders to return to Oakland from Los Angeles. In the case of the first Raiders Deal, the protection against bond default in case less than the required level of $83 million in personal seat licenses were sold were the general funds of the City of Oakland and the County of Alameda – only $56 million were sold. The deal didn't work, and the City of Oakland and the County of Alameda are into their 20th year of $20 million in annual payments from their general funds. The Las Vegas Raiders Deal is written in such a way that it dips directly into the Clark County General Fund, and while the stadium authority is used as the collector of tax money from the hotel tax, there's no language that specifically says that no part of the Clark County general fund can be used in place of, or in addition to the tax revenue that's collected by the stadium authority. There is no language that specifically defines where the Clark County general fund is in the deal – it's not there. Yet, the legislation calls for a general obligation bond, but it's based ostensibly based on a single-source of revenue, the hotel tax increase. Right? So if the Clark County's floating the general obligation bond, where is the language that it collects the tax revenue from the stadium authority? It's not there – the stadium authority is the collector of the money. Normally under a general obligation bond, Clark County itself would collect the tax revenue, and not the stadium authority. What this should have been is the County collecting the tax increase revenue, and then giving to the the stadium authority the amount needed for the bond debt service. It's like someone at the SNTIC didn't want Clark County to have clear control over the flow of funds, but then forgot that its being asked to issue a general obligation bond! This is all messed up. You can't guess at the correct answer and say “Well, they intended this” – it's supposed to be written in the legislation. It's not there.
via YouTube http://youtu.be/rIrMkOq-dCA
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