EM spends $5M on consultants

[Richard]

They keep throwing this number out there,sorry I do not have the exact, but the city is 5 billion in debt but 3 billion of that debt is owned by DWSD.

When you read the bond offering for DWSD it states that it is separate from the city reach , which in turn gives it credit ability. So bonding for DWSD and bonding for the COD are two separate issues but yet they pad COD numbers.

No doubt the city is in debt ,EM has more power then a bankruptcy judge,but there are a lot more reasons for a EM then a bankruptcy which makes it easier to be more below the law so to speak, to me anyways the only good the EM can do is put the currant city gov in a holding pattern until you can elect a working mayor and CC , lots of damage control in the meantime and struggle to keep and not lose long term .


So in maybe my screwed up mind they are taking the 3 billion debt from DWSD which is actually a debt that is being paid already so you really cannot count it as a debt ,dollar in dollar out or self supporting debt.

So they are taking that debt from DWSD and then transferring it to the city debt in order to turn it over with a clean slate or no debt.

So then the city is oweing the debt without the revenue to pay it,DWSD now has no debt and who ever ends up with it can then go and sell bonds and collect 3 billion because it is debt free. Slick Hugh