$290.8 Million of City Outstanding Parity General Obligation Bonds > Expected Sale Date 15 March 2016

Hold on a minute! - that was yesterday's news in a press release from Moody's Investment Services. . . Two hours ago, via Reuters, there was this headline

Calpers, Moody's settle mortgage suit

The California Public Employees Retirement System, or Calpers, said it has reached a $130 million settlement with Moody's and Moody's Investors' Service to resolve a case involving mortgage deals.

The lawsuit stems from losses the pension fund suffered after the collapse of the housing market and defaults on formerly AAA-rated securities that were backed by pools of residential mortgages that turned out to be not so highly-rated but rather quite risky by Moody's and other rating agencies in 2009.

The settlements rank as the largest known recovery from Moody's and S&P in a private lawsuit for civil damages, Calpers said.

DEFINITION of 'Refunding' The process of retiring or redeeming an outstanding bond issue at maturity by using the proceeds from a new debt issue. The new issue is almost always issued at a lower rate of interest than the refunded issue, ensuring significant reduction in interest expense for the issuer.
Readers of this post can go the City of Mesa website for more details about debt-financing
http://www.mesaaz.gov/about-us/city-projects/bonds
The City issues debt in the form of bonds in order to finance long-term capital improvements such as streets, buildings, utility systems, etc. Bond funds cannot be used to fund City operations such as employee salaries, police vehicles or personal computers.
Issuing bonds allows the City to meet infrastructure needs while paying for the assets as they are used. Because municipal bonds are typically tax-exempt, they usually carry a lower interest rate than other types of debt, and are therefore an attractive source of financing. 

The City continues to place a high priority on infrastructure investment to attract and service future development.
Residents wishing to purchase City of Mesa bonds should contact a securities broker in order to purchase securities in the secondary market.
City bonds are not sold directly to the public. Rather, bonds are sold in bulk in order for the City to receive the most favorable interest rate. 

The City uses two main types of bond financing:
General Obligation
Utility Systems Revenue bonds.
The ratings for these bonds are show above.

General Obligation (G.O.) Bonds are used to finance public safety, street, park, library, and storm sewer projects. They are repaid primarily through  secondary property tax, development impact fees, and sales tax revenue. G.O. Bonds are backed by the full faith and credit of the City.
Utility Revenue Bonds are used to finance gas, water, wastewater, electric, and solid waste projects. Utility Revenue bonds are repaid from revenues received from the customers of each particular utility.

Rating Action:
Moody's assigns Aa2 to City of Mesa's, (AZ) GO Refunding Bonds 2016
Global Credit Research - 09 Mar 2016
Source: Moody's Research PR_903163570 March 9, 2016 

- Issue: General Obligation Refunding Bonds, Tax-Exempt Series 2016A

Rating: Aa2

Sale Amount: $20,475,000

Expected Sale Date: 3/15/2016

Rating Description: General Obligation

- Issue: General Obligation Refunding Bonds, Taxable Series 2016B
Rating: Aa2
Sale Amount: $22,935,000
Expected Sale Date: 3/15/2016
Rating Description: General Obligation

Moody's has affirmed the Aa2 ratings on the city's approximately $290.8 million of outstanding, parity General Obligation (GO) bonds. The long term rating carries a stable outlook. 
The Aa2 reflects the city's large property tax base, which grew at a healthy rate in 2015 and 2016 after several years of declines; a diverse local economy that continues to expand at a pace that exceeds the nation; stable financial operations and strong management; and a moderate debt burden

Rating Outlook
The stable outlook reflects our expectation that the city and regional economic recovery will continue and will support growth in primary operating revenues and that the city will continue to make timely budgetary adjustments, as necessary, to preserve financial flexibility.

Legal Security
The bonds are secured by the city's unlimited ad valorem tax general obligation (GO) pledge.

Use of Proceeds
Proceeds will be used to refund certain maturities of previously issued debt for annual debt service savings.

Releasing Office: Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

An infographic for comparison

Which States Offer Women The Most Equality? . . . and Here In Mesa?

Let's start off with the announcement for nominations to the Mesa Camber of Commerce Annual Leadership Awards event coming up on April 29, 2016 @ 5:00 PM - 8:30 PM.
Just based on the law of averages, women in Mesa deserve to get a fair share of recognition for business excellence and leadership . . . has that been the case in the last twenty years?
Bloomberg yesterday published this report :
Here's Which States Offer Women The Most Equality
It helps when white-collar industries dominate
By Tatiana Darien and Wei Lu / March 8, 2016 — 6:00 AM MST
The ranking is based on the female-versus-male pay ratio, women's labor participation rates, college degree holders, health coverage and poverty levels.

"Women tend to do well where the industries that dominate that state are white-collar industries, whether it’s insurance, or healthcare or education or government . . .  In general, educated women are attracted to big cities, and particularly where there is a strong public sector, because women can advance more equally in the public sector," said Heidi Hartmann, president of the Institute for Women’s Policy Research in Washington.
 Arizona is ranked 34 out of the 50 states.
Let's look at public governance here in Mesa
Has a woman ever been elected mayor?
In the last 30 years
How many women have been elected to the City Council?
Or, for that matter, how many women have held leadership positions in economic development, city management, finance and budget, technology, housing and community development, or planning and zoning? 

Despite making up half of the population, women hold about 19 percent of the seats in Congress, according to data from the Center for American Women and Politics, a research unit of the Rutgers University of New Jersey. Only six women were serving as governors in 2015, according to the group.

A larger share of women in politics could help draw attention to issues such as paid family leave, affordable childcare and equal pay, Hartmann said.

The gender equality index is based on leadership inroads made by women in business ownership, lawmaking, advanced degrees, 6-figure compensation and corporate governance.

Arizona is ranked 16 out of 50 states.

In Mesa is there data available for women business ownership?

Open Data Readiness Assessment > What Worked

Published on Feb 26, 2016

In November 2014 to June 2015 work was done on  an open data readiness assessment of Kyrgyzstan.

Here's what a former communist-nation in Eastern Europe did

" . . . The high potential of information assets is a key factor in promoting public-private partnership at the whole-of-country level.

Entrepreneurs and IT developers are actively relying on and anticipating further increase of freely available valuable data collected and provided by public agencies. Encouroging open access to public databases, we pursue the goal of turning attention of businesses and IT developers to the new opportunities for creation of modern interactive e-services which can satisfy key needs of stakeholders and customers. . . .

 

 

 

The Open Data Readiness Assessment (ODRA) report of Kyrgyzstan offers clear vision and specific recommendations for public agencies, business leaders, civil society and international donor community. From personal point of view, among key recommendations suggested to ensure data-driven economic development of the Kyrgyz Republic

the most important one is building partnerships across public sector, businesses and civil society organisations.

A successful National Open Data Initiative in the Kyrgyz Republic would require:

1. Raising much larger awareness across government on what open data is and its potential, thus creating more collective political commitment and sustained leadership across government.

2. Centralized guidance on the interpretation and application of the existing framework of laws concerning access to information. This includes the rationalization and possibly partial removal of existing charging practices such as for FOIA requests.

3. A strong collaborative attitude between government agencies, civil society and the business and developer communities.

Source: http://www.slideshare.net/TheGreenLand/open-data-readiness-assessment-for-kyrgyzstan

Open Data Day Sat 05 March 2016





The City of Mesa just does not seem "to get it" when it comes to open data - opting instead on a so-called "Leadership Board" nominated from only a cast of nine City Hall insiders instead of embracing and partnering and including everyone from the start with no citizen engagement at all at this point in time.
A reporter for Next City made an off-hand remark in an article from yesterday: “What we are dealing with is institutions that are fundamentally opposed to addressing the problem. Cities could build just as good a system using index cards if they have someone with the political will to connect the dots.”
Question: Is there the political will and citizen engagement - and the leadership - here in Mesa?

A ReModel @ Courtyard Towers

Invitation Sat 23 March 4-6 p.m.

Come experience the first phase of Courtyard Towers' remodel, and have the opportunity to meet our new team! This will be an evening of great food, live entertainment, and even better cocktails!
Check out the event flyer below for details!





http://www.courtyardtowersaz.com/index.asp

 

Re// Southwest Maker Fest Sat 12 March: New Urban DTMesa Now + Future

Southwest Maker Fest  is a collaborative one-day festival and community of makers seeking to achieve the vision of a connected community, empowered by creativity.

The Southwest Maker Fest (SWMF) mission is to celebrate, engage, and inspire the maker in each of us.
Join our effort to improve the festival in 2016, our third year! You can join the SWMF community by volunteering to help plan the event, exhibiting/presenting at the event, or joining in the fun as an attendee!
Schedule for:

Main Stage Performances
Venue Workshops + Presentations
In-Booth Workshops + Presentations
See link >> http://www.southwestmakerfest.com/

An Ensemble Of Investment Portfolio Assets Finds Mesa A Good Place for Capital



Two recent pressers have announced the sale of one property here in DTMesa, mentioning a $13M update renovation to a prime downtown location in an existing building sitting next to an open large tract of City-owned land called Site 17. 
More importantly, it is an area directly connected to city-owned outdoor entertainment venue Mesa Amphitheater and indoor Mesa Convention Center - facilities that host thousands of people year-round in what used to be Rendezvous Park.
It's fertile ground for more capital investment in commercial, hospitality, urban multi-family and mixed-use development of the central core here in the new Urban DTMesa..
Arizona-based Ensemble Real Estate Solutions & Investments has investment in more than eight healthcare facilities in Arizona and 50 commercial properties 
Learn more at www.ensemble.net.