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re: The Costs of Stopping the Tram

Has the City Attorney's office advised all staff, and all OHSU folks too, that documents related to the tram and NM would be critical to an effective investigation by the FBI and the SEC? I would include all documents pertaining to other Urban Renewal districts and anything related to the creditworthiness of the city for any bonding activity.

Bear in mind that one single initiative, or single city council vote, could wipe the slate clean of all moral obligation bonds and reset all taxes to be based on a principal of conformity with uniform taxation. The creditor's remedy is limited to effectively prohibiting the city from bonding activity for a term of five years. The outstanding moral obligation bonds would simply become worthless to the bondholders.

This would of course affect the LID upon which the City Attorney references above as a mechanism to pay for asserted City obligations pertaining to the tram. The LID owes nothing for it is just a description of a geographic and jurisdictional boundary for assertion of the City's taxing authority. It, the LID, would be part of wiping the slate clean through an initiative, thereby thwarting that source of tram funding.

Has the accumulation of such bonds and the pent up inequities of burdens and rewards grown substantial enough for the public to agree that a five year moratorium is in their own self interest? That would be a question I would like to explore, particularly if a judge agrees to place my name on the November, yes November, ballot along side that of the present City Auditor.

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