Sunday, February 14, 2010
City attorney moving forward with bond call to complete Cumberland Harbour infrastructure.
Green eco-weenies share blame for failure.
http://jacksonville.com/news/georgia/2010-02-14/story/residents_optimistic_about_cumberland_harbours_future
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3 comments:
Jay what happend to the 40 - 60 million dollar water/sewer bond St. Marys took out via the PSA?
The article is talking about the PERFORMANCE bond taken out by the original Cumbrerland Harbour developer.
I assume that you are inquring about the REVENUE bonds issued via the PSA to bulid the additional sewage treatment capacity for St. Marys. The two are unrelated. The swewage treatment plant has been built and St. Marys continues to struggle to pay the debt service on the bonds.
Thanks. Performance vs. Revenue
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